HOUSE MEMORIAL 19

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

INTRODUCED BY

Thomas C. Taylor

A MEMORIAL

REQUESTING THE INTERIM REVENUE STABILIZATION AND TAX POLICY COMMITTEE TO STUDY THE NEED FOR AN OFFICE OF FISCAL ACCOUNTABILITY.

     WHEREAS, dissemination of information on the state's revenue system is of vital importance in ensuring accountability to the public for revenue collections; and

     WHEREAS, there is a need for a public repository in the form of a web site of all financial information collected by the state from tax returns, provided that confidential taxpayer information is not revealed; and

     WHEREAS, the compilation of financial information into frequent periodic reports is needed to enable the legislature, the executive, local governments and the public to monitor and evaluate the status of the revenue system; and

     WHEREAS, independent analysis of critical issues concerning the revenue system is needed to ensure that revenue laws are appropriately revised to meet the changing nature of the economy; and

     WHEREAS, an office of fiscal accountability could collect, compile and publish in electronic format monthly financial information on all revenues collected and distributed by the state; and

     WHEREAS, an office of fiscal accountability could publish periodic reports summarizing revenue collection information and additional information from tax returns for use in determining trends for each of the state's revenues and could provide links to other information on the state's economy and revenues; and

     WHEREAS, an office of fiscal accountability could provide independent analysis of ways to improve the state's tax system, including consideration of alternative methods of collecting data needed to evaluate the state's tax system;

     NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that the interim revenue stabilization and tax policy committee study the feasibility of establishing an office of fiscal accountability and report its conclusions and recommendations to the second session of the forty-ninth legislature; and

     BE IT FURTHER RESOLVED that state agencies, including the taxation and revenue department, the department of finance and administration and the department of transportation be requested to cooperate with the interim revenue stabilization and tax policy committee in preparing the study; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the secretary of taxation and revenue, the secretary of finance and administration, the secretary of transportation and the director of the legislative council service.

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