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F I S C A L I M P A C T R E P O R T
SPONSOR Rawson
DATE TYPED 02/28/05 HB
SHORT TITLE Limit Property Tax Violation Civil Penalties
SB 1018
ANALYST Wilson
REVENUE
Estimated Revenue
Subsequent
Years Impact
Recurring
or Non-Rec
Fund
Affected
FY05
FY06
($0.1) Recurring
County Funds
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Attorney General’s Office (AGO)
SUMMARY
Synopsis of Bill
Senate Bill 1018 amends Section 7-38-8 NMSA 1978 relating to the taxation of property. The
statute currently imposes a civil penalty when a person fails to report property as specified by
this statute. This bill will add a knowing requirement to a person’s failure to report property or
improvements.
Significant Issues
The AGO states:
•
Ignorance of this reporting requirement will be a complete defense to a violation of the
statute.
•
Persons owning property will have a disincentive to educate themselves as to the report-
ing obligations of such ownership.