FORTY-SEVENTH LEGISLATURE

FIRST SESSION, 2005

March 11, 2005

Mr. Speaker:

    Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom has been referred

HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE

FOR HOUSE BILL 452

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

    1. On page 1, lines 16 and 17, strike "; MAKING AN APPROPRIATION".

    2. On page 8, between lines 2 and 3, insert the following new subsection:

         "F. A tax-exempt stamp is not an excise stamp for purposes of determining units sold pursuant to Section 6-4-12 NMSA 1978.".

    3. Reletter the succeeding subsection accordingly.

    4. On pages 25 and 26, strike Section 18 in its entirety.

    5. Renumber the succeeding section accordingly.