FIFTIETH LEGISLATURESB 177/a

FIRST SESSION, 2011

February 2, 2011

Mr. President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 177

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

    1. On page 1, line 14, before the second occurrence of "NEW MEXICO" insert "CERTAIN".

    2. On page 1, line 16, before "NEW MEXICO" insert "CERTAIN".

    3. On page 2, line 1, before "New Mexico" insert "certain".

    4. On page 2, between lines 13 and 14, insert the following new subsection:

         "B. "county" means a class A county with a net property tax value in the prior year, as determined by the local government division of the department of finance and administration, greater than six billion dollars ($6,000,000,000) but less than fourteen billion dollars ($14,000,000,000);".

    5. Reletter the succeeding subsections accordingly.

    6. On page 2, line 17, before the colon, insert "the costs of".

    7. On page 2, between lines 17 and 18, insert the following new paragraphs:

             "(1) acquisition of land upon which affordable housing will be constructed;

             (2) acquisition of an existing building that will be renovated, converted or demolished and reconstructed as affordable housing;".

    8. Renumber the succeeding paragraphs accordingly.

    9. On page 2, line 18, strike "a portion of the costs of".

    10. On page 2, line 20, after the semicolon, insert "or".

    11. On page 2, line 22, strike "or".

    12. On page 2, strike lines 23 through 25 in their entirety.

    13. On page 5, between lines 2 and 3, insert the following new subsection:

         "H. "municipality" means a municipality located within a county, as that term is defined in the Municipal and County Affordable Housing Act;".

    14. Reletter the succeeding subsections accordingly.,

and thence referred to the FINANCE COMMITTEE.

                               Respectfully submitted,

                               ___________________________________

                               Phil A. Griego, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 7 For 0 Against

Yes:      7

No:       0

Excused: Cravens, Muñoz, Sapien

Absent:   None

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