March 1, 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 "DEDUCTIONS AND".

2. On page 1, lines 13 and 14, strike "A GROSS RECEIPTS TAX DEDUCTION FOR CERTAIN TESTING SERVICES AND".

3. On pages 2 and 3, strike Section 3 in its entirety.

4. On pages 4 and 5, strike Section 5 in its entirety.

5. On page 5, line 16, before "TEST" insert "SPACE-RELATED".

6. On page 5, line 17, before "test" insert "space-related".

7. On page 5, line 22, before "test" insert "space-related".

8. On page 5, line 25, before "test" insert "space-related".

9. On page 6, line 2, before "test" insert "space-related".

10. On page 6, line 5, before "test" insert "space-related".

11. On page 6, line 6, after "used" insert "primarily".

12. On page 6, strike lines 8 and 9 in their entirety and strike line 10 through "application" and insert in lieu thereof:

"properties, qualities or functioning of a device or technology when the principal use of the material, device or technology is intended to be in space or as part of, or associated with, a space vehicle".

13. Renumber sections to correspond with these amendments.

Respectfully submitted,

__________________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 7 For 0 Against

Yes: 7

No: 0

Excused: Campos, Carraro, Tsosie

Absent: None

S0623FC1 .146415.1