FIFTY-FIFTH LEGISLATURE

SECOND SESSION, 2022

 

February 16, 2022

 

 

 

Mr. Speaker:

 

    Your TAXATION & REVENUE COMMITTEE, to whom has been referred

 

SENATE TAX, BUSINESS AND TRANSPORTATION COMMITTEE SUBSTITUTE FOR SENATE BILL 137, as amended

 

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

 

  1. Strike all senate finance committee amendments.

 

  2. On page 1, line 12, strike the semicolon and the remainder of the line, strike line 13 in its entirety and strike line 14 up to the period.

 

  3. On page 2, line 8, strike "The" and insert in lieu thereof

"On July 1, 2022 and July 1, 2023, as applicable, the".

 

  4. On page 2, line 9, strike "the following", on line 10,

strike "as", strike lines 11 through 23 in their entirety and insert in lieu thereof "in an amount equal to the qualifying municipality's revenue reduction for the relevant period.".

 

5. On page 3, line 1, strike "for that allocation period".

 

6. On page 3, line 6, after "municipality", insert

"attributable to the first six months of a fiscal year,".

 

7. On page 3, line 9, strike "that occurred during the" and

insert in lieu thereof "attributable to that".

 

8. On page 3, strike line 11 in its entirety.

 

9. Renumber the succeeding paragraphs accordingly.

 

10. On page 3, line 13, strike the colon and strike lines 14

through 20 in their entirety and insert in lieu thereof "experienced

a revenue reduction; and".

 

 

 

 

11. On page 3, line 21, strike "in a", strike lines 22 through

25 in their entirety and on page 4, strike lines 1 through 3 in

their entirety and insert in lieu thereof "of ten percent or more of

a qualifying municipality's adjusted gross receipts tax revenue in

fiscal year 2022 or fiscal year 2023 compared to the average of the

adjusted gross receipts tax revenue in fiscal years 2020 and 2021,

as calculated by the taxation and revenue department.".

 

12. On pages 4 through 9, strike Sections 2 through 5 in their

entirety.

 

 

 

                             

                             Respectfully submitted,

 

 

 

                                                                 

Christine Chandler, Chair

 

 

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

 

Date

 

 

The roll call vote was 9 For 0 Against

Yes:      9

No:       0

Excused:  Egolf, Lujan, Maestas, Martínez, Montoya, RD

Absent:   None

 

222796.2

 

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