HOUSE BILL 640

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

INTRODUCED BY

Terry T. Marquardt







AN ACT

RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS RECEIPTS FOR CERTAIN RECEIPTS FROM PROVIDING CHILD DAYCARE SERVICES.



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

Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS TAX--CHILD DAYCARE SERVICES.--Receipts from providing child daycare services pursuant to a contract with the children, youth and families department may be deducted from gross receipts."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2003.

.143936.1