FIFTY-FIFTH LEGISLATURE

FIRST SESSION

February 25, 2021

 

HOUSE FLOOR AMENDMENT number ___1__ to HOUSE TAXATION AND REVENUE COMMITTEE SUBSTITUTE FOR HOUSE HEALTH AND HUMAN SERVICES COMMITTEE SUBSTITUTE FOR HOUSE BILL 12

Amendment sponsored by Representative Javier Martínez

    1. On page 123, between lines 11 and 12, insert the following new section:

    "SECTION 63. Section 7-9-73.2 NMSA 1978 (being Laws 1998, Chapter 95, Section 2 and Laws 1998, Chapter 99, Section 4, as amended) is amended to read:

    "7-9-73.2. DEDUCTION--GROSS RECEIPTS TAX AND GOVERNMENTAL GROSS RECEIPTS TAX--PRESCRIPTION DRUGS--OXYGEN--CANNABIS.--

         A. Receipts from the sale of prescription drugs and oxygen [and], oxygen services provided by a licensed medicare durable medical equipment provider and, on or after January 1, 2022, cannabis products that are purchased in accordance with the Lynn and Erin Compassionate Use Act may be deducted from gross receipts and governmental gross receipts.

         B. For the purposes of this section, "prescription drugs" means insulin and substances that are:

             (1) dispensed by or under the supervision of a licensed pharmacist or by a physician or other person authorized under state law to do so;

             (2) prescribed for a specified person by a person authorized under state law to prescribe the substance; and

             (3) subject to the restrictions on sale contained in Subparagraph 1 of Subsection (b) of 21 USCA 353."".

    2. Renumber the succeeding sections accordingly.

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Adopted ___________________ Not Adopted ________________________

          (Chief Clerk)                (Chief Clerk)

                  Date _________________