FORTY-SEVENTH LEGISLATURE

SECOND SESSION, 2006

February 11, 2006

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 842

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

     1. On page 2, line 15, after "of" strike the remainder of the line.

     2. On page 2, line 17, strike the first incidence of "the" and insert in lieu thereof "a".

     3. On page 4, line 19, after "of" strike the remainder of the line.

     4. On page 4, line 20, strike "the" and insert in lieu thereof "a".

     5. On page 6, lines 18 and 19, strike "a sports authority or components" and insert in lieu thereof "athletic or recreational projects".

     6. On page 6, line 24, after "contributions" insert a comma and "gross receipts tax revenue".

     7. On page 7, line 10, after "state" insert "and a qualified entity under the New Mexico Finance Authority Act".

     8. On page 7, line 11, strike "regional".

     9. On page 16, line 8, strike "shall" and insert in lieu thereof "may".

     10. On page 17, line 5, after the semicolon insert "and".

     11. On page 17, lines 6 through 8, strike Paragraph (11) in its entirety.

     12. Renumber the succeeding paragraph accordingly.

     13. On page 17, line 12, strike "public or private sale" and insert in lieu thereof "private sale to the New Mexico finance authority".

     14. On page 17, strike line 17 through "bonds" and insert in lieu thereof "sell bonds to the New Mexico finance authority".

     15. On page 18, line 23, strike "pledgeable" and insert in lieu thereof "pledged".

     16. On page 18, lines 24 and 25, strike "an indebtedness or general obligation" and insert in lieu thereof "a general obligation indebtedness".

     17. On page 19, lines 2 and 3, strike Subsection I in its entirety.

     18. On page 19, line 15, strike "for the state in bonds" and insert in lieu thereof "of the state in the bonds".

     19. On page 19, lines 22 and 23, strike "The income or other revenues of a sports authority, all" and insert in lieu thereof "All".

     20. On page 20, line 1, strike "in the state" and insert in lieu thereof "by the state or its political subdivisions".

     21. On page 20, line 7, after "of" insert "an athletic or recreational project of".

     22. On page 20, line 11, after "specified" insert "athletic or recreational project of a".

     23. On page 20, line 13, after "concerning" insert "an athletic or recreational project of".

     24. On page 20, line 17, after "of" insert "an athletic or recreational project of".

     25. On page 20, line 23, after "of" insert "an athletic or recreational project of".

     26. On page 21, line 2, after "of" insert "an athletic or recreational project of".

     27. On page 21, line 15, strike "number" and insert in lieu thereof "amount".