FORTY-SEVENTH LEGISLATURE

FIRST SESSION, 2005

February 28, 2005

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 816, as amended

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

     1. Strike House Energy and Natural Resources Committee Amendment 1.

     2. On page 4, lines 16 through 25, and on page 5, lines 1 through 3, strike Subsections E and F in their entirety and insert in lieu thereof:

          "E. No land or interest in real property for which a tax credit has been claimed pursuant to Section 7-2-18.10 or 7-2A-8.9 NMSA 1978 may be transferred to a third party without prior written notice from the transferor to the person claiming the tax credit or, if the person claiming the tax credit has transferred a remaining interest in the land or interest in real property subject to the tax credit, to the current owner of record with regard to that remaining interest. As used in this subsection, "prior written notice" means a written document sent first class, certified mail, return receipt requested, to the last known address of the recipient as shown in county real property records, thirty days in advance of the transfer to a third party."".