A JOINT RESOLUTION
PROPOSING AN AMENDMENT TO ARTICLE 8, SECTION 5 OF THE
CONSTITUTION OF NEW MEXICO TO APPLY THE EXEMPTION FROM PROPERTY TAXATION TO ALL
HONORABLY DISCHARGED VETERANS WHO SERVED IN THE UNITED STATES ARMED FORCES.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW
MEXICO:
Section 1. It is proposed to amend Article 8, Section 5
of the constitution of New Mexico to read:
"The legislature shall exempt from
taxation the property of each head of the family in the amount of two thousand
dollars ($2,000). The legislature shall
also exempt from taxation the property, including the community or joint
property of husband and wife, of every honorably discharged member of the armed
forces of the United States and the widow or widower of every such honorably
discharged member of the armed forces of the United States, in the sum of three
thousand dollars ($3,000) in 2004; three thousand five hundred dollars ($3,500)
in 2005; and four thousand dollars ($4,000) in 2006 and each subsequent year. Provided, that in every case where exemption
is claimed on the ground of the claimant's having served with the armed forces
of the United States as aforesaid, the burden of proving actual and bona fide
ownership of such property upon which exemption is claimed, shall be upon the claimant."
Section 2. The amendment proposed by this resolution
shall be submitted to the people for their approval or rejection at the next
general election or at any special election prior to that date that may be
called for that purpose.