FORTY-SEVENTH LEGISLATURE

SECOND SESSION

February 15, 2006

SENATE FLOOR AMENDMENT number ___1___ toHOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR HOUSE BILLS 82, 128, 144, 295, 380, 390, 395, 424, 440, 441, 448, 455, 465, 501, 603 and 674, as amended

Amendment sponsored by Senator

    1. Strike Senate Finance Committee Amendment 9.

    2. On page 13, between lines 9 and 10, insert the following section:

    "Section 6. A new section of the Tax Administration Act is enacted to read:

    "[NEW MATERIAL] DISTRIBUTION--TRIBAL INFRASTRUCTURE PROJECT FUND.--A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the tribal infrastructure project fund from the net receipts of the compensating tax paid with respect to the construction or operation of a qualified generating facility located on Navajo Nation land defined pursuant to Section 7-29C-3 NMSA 1978 in an amount equal to fifteen percent of the compensating tax due prior to the claiming of any credit allowed pursuant to that section."".

                                    _______________________________

Adopted ___________________ Not Adopted ________________________

          (Chief Clerk)                (Chief Clerk)

                  Date _________________