HM 17

Page 1

A MEMORIAL

REQUESTING THE ECONOMICS DEPARTMENT AT NEW MEXICO STATE

UNIVERSITY TO ESTABLISH A TASK FORCE TO EXAMINE THE ECONOMIC

BENEFIT OF PROVIDING A PERSONAL INCOME TAX EXEMPTION FOR

RETAINER PAY MADE TO RETIRED MILITARY SERVICE PERSONNEL.

WHEREAS, retired military personnel have significant

resources to offer New Mexico and their retirement in the

state would provide economic development opportunities;

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF

REPRESENTATIVES OF THE STATE OF NEW MEXICO that the economics

department at New Mexico state university be requested to

establish a task force to examine the economic benefit of

providing a personal income tax exemption for retainer pay

made to retired military service personnel; and

BE IT FURTHER RESOLVED that the task force be chaired by

an academic with established credentials in economics and that

the task force include: two assigned personnel from the

taxation and revenue department; one person from the economic

development department; one person with tax experience in New

Mexico and with experience in federal tax law; two persons

appointed by the governor; two persons recommended by the

military officers association of America; two enlisted retired

military service personnel designated by veterans'

associations; at least one woman representing retired military

HM 17

Page 2

service personnel widows; and a representative of the

veterans' services; and

BE IT FURTHER RESOLVED that the task force report its

findings and recommendations to the appropriate interim

committee of the legislature by December 15, 2008; and

BE IT FURTHER RESOLVED that a copy of this memorial be

transmitted to the chair of the economics department at New

Mexico state university.