0001| SENATE JOINT MEMORIAL 72
|
0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
|
0003| 1996
|
0004| INTRODUCED BY
|
0005| SHANNON ROBINSON
|
0006|
|
0007|
|
0008|
|
0009|
|
0010|
|
0011| A JOINT MEMORIAL
|
0012| REQUESTING THE LEGISLATIVE FINANCE COMMITTEE TO STUDY THE
|
0013| EFFECTS OF ECONOMIC DEVELOPMENT PROGRAMS ON THE STATE OF NEW
|
0014| MEXICO.
|
0015|
|
0016| WHEREAS, state and local tax revenues continue to fall
|
0017| short of anticipated proceeds and of state and local government
|
0018| expenditure needs; and
|
0019| WHEREAS, reduced state and local government tax revenues
|
0020| impact the delivery of government services to the communities of
|
0021| New Mexico; and
|
0022| WHEREAS, during this same period of government revenue
|
0023| shortfalls, New Mexico is experiencing exceptional and rapid
|
0024| growth, which is impacting our resources, our culture and the
|
0025| affordability and overall quality of the lives of our people;
|
0001| and
|
0002| WHEREAS, economic development incentives, such as
|
0003| industrial revenue bonds, the New Mexico investment tax credit
|
0004| and the double-weighted sales factor for corporate income tax
|
0005| calculation, have the effect both of reducing government
|
0006| revenues and of contributing to growth and growth-related
|
0007| problems; and
|
0008| WHEREAS, the benefits of the economic incentives have been
|
0009| restricted almost entirely to transnational world-class
|
0010| corporations while New Mexico-based home-grown companies
|
0011| continue to pay property taxes and pay corporate income taxes at
|
0012| higher effective rates than non-New Mexico-based firms; and
|
0013| WHEREAS, in the case of industrial revenue bonds, small
|
0014| local governments now make decisions, which can seriously impact
|
0015| state revenues without a comprehensive analysis of the overall
|
0016| impacts on the state, its citizens or on other communities
|
0017| within the state and often with little or no community input or
|
0018| participation;
|
0019| NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
|
0020| STATE OF NEW MEXICO that the legislative finance committee
|
0021| conduct an in-depth study of the current state economic
|
0022| development incentives and their effect on New Mexico and its
|
0023| resources, residents and cultures with full public
|
0024| participation; and
|
0025| BE IT FURTHER RESOLVED that the legislative finance
|
0001| committee make recommendations to the legislature by December 1,
|
0002| 1996 to further the growth of local, home-grown business, to
|
0003| assure that growth and public participation issues are addressed
|
0004| in all development incentives offered to business and to protect
|
0005| government revenues, our resources and our people; and
|
0006| BE IT FURTHER RESOLVED that copies of this memorial be
|
0007| transmitted to the members of the legislative finance committee.
|
0008| - 3 -
|
0009|
|
0010| FORTY-SECOND LEGISLATURE
|
0011| SECOND SESSION, 1996
|
0012|
|
0013|
|
0014| February 10, 1996
|
0015|
|
0016| Mr. President:
|
0017|
|
0018| Your RULES COMMITTEE, to whom has been referred
|
0019|
|
0020| SENATE JOINT MEMORIAL 72
|
0021|
|
0022| has had it under consideration and reports same with
|
0023| recommendation that it DO PASS, and thence referred to the
|
0024| FINANCE COMMITTEE.
|
0025|
|
0001| Respectfully submitted,
|
0002|
|
0003|
|
0004|
|
0005| __________________________________
|
0006| Gloria Howes, Chairman
|
0007|
|
0008|
|
0009|
|
0010| Adopted_______________________ Not Adopted_______________________
|
0011| (Chief Clerk) (Chief Clerk)
|
0012|
|
0013|
|
0014|
|
0015| Date ________________________
|
0016|
|
0017|
|
0018| The roll call vote was 7 For 0 Against
|
0019| Yes: 7
|
0020| No: 0
|
0021| Excused: EJennings, Wray
|
0022| Absent: 0
|
0023|
|
0024|
|
0025| SJ072RU1
|
0001|
|
0002|
|
0003| FORTY-SECOND LEGISLATURE
|
0004| SECOND SESSION, 1996
|
0005|
|
0006|
|
0007| February 14, 1996
|
0008|
|
0009| Mr. President:
|
0010|
|
0011| Your FINANCE COMMITTEE, to whom has been referred
|
0012|
|
0013| SENATE JOINT MEMORIAL 72
|
0014|
|
0015| has had it under consideration and reports same with
|
0016| recommendation that it DO PASS.
|
0017|
|
0018| Respectfully submitted,
|
0019|
|
0020|
|
0021|
|
0022| __________________________________
|
0023| Ben D. Altamirano, Chairman
|
0024|
|
0025|
|
0001|
|
0002| Adopted_______________________ Not Adopted_______________________
|
0003| (Chief Clerk) (Chief Clerk)
|
0004|
|
0005|
|
0006|
|
0007| Date ________________________
|
0008|
|
0009|
|
0010| The roll call vote was 8 For 0 Against
|
0011| Yes: 8
|
0012| No: 0
|
0013| Excused: Donisthrope, Duran, Ingle, Kidd, Kysar
|
0014| Absent: None
|
0015|
|
0016|
|
0017| SJ072FC1
|
0018|
|