SENATE BILL 160

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Stuart Ingle

AN ACT

RELATING TO TAXATION; EXTENDING THE GROSS RECEIPTS TAX DEDUCTION FOR MILITARY CONSTRUCTION SERVICES.

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

     SECTION 1. Section 7-9-106 NMSA 1978 (being Laws 2007, Chapter 172, Section 8) is amended to read:

     "7-9-106. DEDUCTION--MILITARY CONSTRUCTION SERVICES.--

          A. Receipts from military construction services provided at New Mexico military installations to implement special operations mission transition projects pursuant to contracts entered into with the United States department of defense may be deducted from gross receipts; provided that the military installation is located in a class B county with a population greater than forty-two thousand according to the most recent federal decennial census and with a net taxable value for rate-setting purposes of less than one billion dollars ($1,000,000,000) as determined by the local government division of the department of finance and administration for the 2006 property tax year.

          B. The deduction provided in this section applies to reporting periods beginning July 1, 2007 and ending December 31, 2010 and beginning July 1, 2011 and ending December 31, 2014."

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