FORTY-NINTH LEGISLATURE

FIRST SESSION, 2009

February 18, 2009

Mr. Speaker:

    Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 590

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

     1. On page 1, line 19, after "APPROPRIATION", insert "; DECLARING AN EMERGENCY".

     2. On page 3, line 6, after "1978", insert "and federal funds from the temporary assistance for needy families program pursuant to an agreement that the department and the human services department

may enter into for the payment of tax refunds, tax rebates and tax credits to low-income families with dependent children otherwise authorized by state and federal law".

     3. On page 3, lines 11 through 23, strike Subsection F in its entirety.

     4. Reletter the succeeding subsections accordingly.

     5. On page 20, before line 1, insert the following new sections:

     "Section 3. A new section of the Tax Administration Act is enacted to read:

     "[NEW MATERIAL] DISTRIBUTION--STATE CASH ASSISTANCE FUND.--A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state cash assistance fund in an amount equal to the amount of federal funds from the temporary assistance for needy families program expended by the department in the prior calendar month pursuant to an agreement between the department and the human services department for the payment of tax refunds, tax rebates and tax credits to low-income families with dependent children otherwise authorized by state and federal law."

     Section 4. A new section of the New Mexico Works Act is enacted to read:

     "[NEW MATERIAL] STATE CASH ASSISTANCE FUND.--

          A. The "state cash assistance fund" is created in the state treasury.

          B. The fund shall consist of distributions from the tax administration suspense fund in exchange for federal funds paid to that fund pursuant to an agreement between the department and the taxation and revenue department for the payment of tax refunds, tax rebates and tax credits to low-income families with dependent children otherwise authorized by state and federal law.

          C. Unexpended or unencumbered balances in the fund at the end of any fiscal year shall not revert or be transferred to any other fund.

          D. Expenditure of the money in the fund is subject to appropriation to the department."".

     6. Renumber the succeeding section accordingly.

     7. On page 20, line 2, after "of" insert "Sections 3 and 4 of".

     8. On page 20, between lines 2 and 3, insert the following new section:

     "Section 6. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.",

and thence referred to the APPROPRIATIONS AND FINANCE COMMITTEE.

                             Respectfully submitted,

Edward C. Sandoval, Chairman

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

Date

The roll call vote was 9 For 0 Against

Yes:      9

No:       0

Excused:  Arnold-Jones, Barreras, Crook, Gardner, Gray, Lujan, B., Taylor

Absent:   None

.177113.2

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