HOUSE BILL 753

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

INTRODUCED BY

Rhonda S. King

AN ACT

RELATING TO TAXATION; PROVIDING FOR A DEDUCTION FROM GROSS RECEIPTS FOR BATTLESPACE ENVIRONMENT PROGRAMS AT A NEW MEXICO AIR FORCE BASE.

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

     Section 1. DEDUCTION--GROSS RECEIPTS--BATTLESPACE ENVIRONMENT PROGRAMS.--Receipts from performing research and development for battlespace environment programs at a New Mexico air force base pursuant to contracts entered into with the United States department of defense may be deducted from gross receipts.

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2009.

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