FORTY-SIXTH LEGISLATURE

FIRST SESSION, 2003





March 14, 2003





Mr. Speaker:



Your TAXATION AND REVENUE COMMITTEE, to whom has been referred



HOUSE BILL 229



has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:



1. On page 3, line 22, strike "and".



2. On page 3, between lines 22 and 23, insert the following new paragraph:



"(4) a valuation for property taxation purposes exceeding two hundred million dollars ($200,000,000) and that has all county gross receipts tax increments authorized pursuant to Section 7-20E-9 NMSA 1978 in effect on July 1 of the year in which a distribution is made; and".



3. Renumber the succeeding paragraph accordingly.



4. On page 7, strike lines 15 through 24 in their entirety and insert in lieu thereof:



"If the county's total valuation for the preceding property tax year is:



at least: but less

than:

and the county

population is:

then the distribution amount is:
$ 0 $100,000,000 under 4,000 $275,000
$ 0 $100,000,000 over 4,000 $250,000
$ 100,000,000 $210,000,000 under 12,000 $175,000
$ 100,000,000 $210,000,000 over 12,000 $100,000
$ 210,000,000 $1,400,000,000 under 48,000 $ 50,000.".









Respectfully submitted,







Donald L. Whitaker, Chairman





Adopted Not Adopted

(Chief Clerk) (Chief Clerk)



Date

The roll call vote was 16 For 0 Against

Yes: 16

Excused: None

Absent: None





.146832.4

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