HOUSE BILL 548

46th legislature - STATE OF NEW MEXICO - first session, 2003

INTRODUCED BY

Brian K. Moore







AN ACT

RELATING TO TAXATION; EXPANDING THE GROSS RECEIPTS TAX DEDUCTION FOR WIND ENERGY GENERATION EQUIPMENT.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 7-9-54.3 NMSA 1978 (being Laws 2002, Chapter 37, Section 8) is amended to read:

"7-9-54.3. DEDUCTION--GROSS RECEIPTS TAX--WIND ENERGY GENERATION EQUIPMENT [SALES TO GOVERNMENT AGENCIES].--Receipts from selling wind generation nacelles, rotors or related equipment [to the United States or New Mexico or any governmental unit or subdivision, agency, department or instrumentality thereof], if such equipment is installed on a supporting structure, may be deducted from gross receipts."

.143525.1