March 18, 2003

Madam President:

Your FINANCE COMMITTEE, to whom has been referred

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

1. On page 1, line 12, strike the period and insert in lieu thereof "; CHANGING DISTRIBUTION OF FEES".

2. On page 3, line 8, after "($300)" insert "per engine".

3. On page 3, between lines 14 and 15, insert the following new section:

"Section 3. Section 64-4-14 NMSA 1978 (being Laws 1965, Chapter 122, Section 14, as amended) is amended to read:

"64-4-14. DISPOSITION OF FEES.--

A. Except as provided in Subsection B of this section, all fees collected under the provisions of the Aircraft Registration Act shall be remitted to the state treasurer by the division for credit to the state aviation fund.

B. Eighty percent of registration fees collected with respect to aircraft located on airports owned by a local government shall be distributed to the local government. The fees so distributed shall be used by the local government for airport upgrades, including repair, reconstruction and maintenance of runways and related facilities. Local government funding to the airport shall not be replaced in whole or in part by this distribution."".

4. Renumber the succeeding section accordingly.

Respectfully submitted,

__________________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 6 For 0 Against

Yes: 6

No: 0

Excused: Beffort, Carraro, Rawson, Tsosie

Absent: None

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