HB 387
Page 1
AN ACT
RELATING TO TAXATION; PROVIDING ALTERNATE CONTINGENT EFFECTIVE
DATES FOR THE PROVISIONS EXEMPTING LOCOMOTIVE FUEL FROM GROSS
RECEIPTS AND COMPENSATING TAXES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Laws 2007, Chapter 172, Section 29 is
amended to read:
"Section 29. CONTINGENT EFFECTIVE DATE--NOTIFICATION.--
A. The effective date of the provisions of
Sections 12 and 13 of this act is July 1, 2009, provided that
prior to January 1, 2009, the economic development department
certifies to the taxation and revenue department that
construction of a railroad locomotive refueling facility
project in Dona Ana county has commenced, including land
acquisition, acquisition of all necessary permits and
commencement of actual construction. The taxation and revenue
department shall notify the New Mexico compilation commission
and the director of the legislative council service prior to
July 1, 2009 as to whether the certification from the economic
development department has been received.
B. If the requirements of Subsection A of this
section are not fulfilled, the effective date of the
provisions of Sections 12 and 13 of this act shall be July 1,
2010, provided that prior to January 1, 2010, the economic