FORTY-EIGHTH LEGISLATUREHB 757/a

FIRST SESSION, 2007

March 5, 2007

Madam President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

HOUSE BILL 757, as amended

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

    1. On page 2, line 20, strike "and" and insert in lieu thereof a comma and after "J", insert "and K".

    2. On page 5, line 16, strike the closing quotation mark and between lines 16 and 17, insert the following new subsection:

         "K. The percentage to be applied in calculating the amount of a film production tax credit shall include an additional five percent of the total wages, salaries, fringe benefits and other compensation of the keys who are New Mexico residents if:

             (1) seventy-five percent of the keys in below-the-line positions on the project are New Mexico residents; and

             (2) the project is covered by a collective bargaining agreement."". 

    3. On page 8, line 1, strike "and" and between lines 1 and 2, insert the following new subsection:

         "F. "key" means a person who is the manager of a department on a film; and".

    4. Reletter the succeeding subsection accordingly.,

and thence referred to the FINANCE COMMITTEE.

                               Respectfully submitted,

                               __________________________________

                               Shannon Robinson, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 7 For 0 Against

Yes:      7

No:       0

Excused: Griego, Ingle

Absent:   None

HB0757CT1                                                  .169176.1