HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR

HOUSE BILL 407

49th legislature - STATE OF NEW MEXICO - first session, 2009

AN ACT

RELATING TO TAXATION; CREATING AN OPTIONAL DESIGNATION FOR A PERSONAL INCOME TAX CONTRIBUTION FOR THE OPERATION, MAINTENANCE AND IMPROVEMENT OF THE VIETNAM VETERANS MEMORIAL STATE PARK NEAR ANGEL FIRE; PROVIDING FOR A DISTRIBUTION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. A new section of the Tax Administration Act is enacted to read:

     "[NEW MATERIAL] DISTRIBUTION--VETERANS MEMORIAL OPERATION, MAINTENANCE AND IMPROVEMENT.--A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state parks division of the energy, minerals and natural resources department in an amount equal to the money designated pursuant to the Income Tax Act as contributions to the state parks division of the energy, minerals and natural resources department for the operation, maintenance and improvement of the Vietnam veterans memorial state park near Angel Fire, New Mexico."

     Section 2. A new section of the Income Tax Act is enacted to read:

     "[NEW MATERIAL] OPTIONAL DESIGNATION OF TAX REFUND CONTRIBUTION--VIETNAM VETERANS MEMORIAL STATE PARK.--

          A. Except as otherwise provided in Subsection C of this section, any individual whose state income tax liability after application of allowable credits and tax rebates in any year is lower than the amount of money held by the department to the credit of such individual for that tax year may designate any portion of the income tax refund due to the individual to be paid to the state parks division of the energy, minerals and natural resources department for the operation, maintenance and improvement of the Vietnam veterans memorial state park near Angel Fire, New Mexico. In the case of a joint return, both individuals must make such a designation.

          B. The department shall revise the state income tax form to allow the designation of such contributions in the following form:

          "Vietnam Veterans Memorial State Park - Check □

          if you wish to contribute a part or all of your tax

          refund to the state parks division of the energy,           minerals and natural resources department for the           operation, maintenance and improvement of the              Vietnam Veterans Memorial State Park near Angel            Fire, New Mexico. Enter here $_________ the amount           of your contribution.".

          C. The provisions of this section do not apply to income tax refunds subject to interception under the provisions of the Tax Refund Intercept Program Act, and any designation made under the provisions of this section to such refunds is void."

     Section 3. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2010.

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