HOUSE BILL 307

51st legislature - STATE OF NEW MEXICO - second session, 2014

INTRODUCED BY

Patricia Roybal Caballero and Benny Shendo, Jr.

AN ACT

RELATING TO COMPACT NEGOTIATIONS; CAPPING THE REVENUE-SHARING PERCENTAGE OF A TRIBAL-STATE CLASS III GAMING COMPACT AT THE SAME PERCENTAGE AS THE CORPORATE INCOME TAX RATES.

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

     SECTION 1. Section 11-13A-1 NMSA 1978 (being Laws 1999, Chapter 252, Section 1) is amended to read:

     "11-13A-1. SHORT TITLE.--[This act] Chapter 11, Article 13A NMSA 1978 may be cited as the "Compact Negotiation Act"."

     SECTION 2. A new section of the Compact Negotiation Act is enacted to read:

     "[NEW MATERIAL] REVENUE-SHARING CAP.--The governor shall not submit to the committee, and the legislature shall not approve, a compact or amendment that provides for a revenue-sharing percentage paid by a tribe to the state that exceeds the corporate income tax rates pursuant to Section 7-2A-5 NMSA 1978."

     SECTION 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2014.

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