FORTY-THIRD LEGISLATURE
                          FIRST SESSION
  
                                                      March 14, 1997
  
  
  HOUSE FLOOR AMENDMENT number ___1___ to HOUSE BILL 141
  
  Amendment sponsored by Representative Ben Lujan
  
  
    1.  Strike House Taxation and Revenue Committee amendments.
  
    2.  On page 3, line 9, strike the closing quotation mark and between lines 9 and 10, insert
  the following new subsection:
  
        "E.  Nothing in an agreement entered into pursuant to this section shall apply to a
  taxable transaction subject to the taxing authority of a municipality pursuant to a local option
  gross receipts tax act or distribution to a municipality from gross receipts taxes pursuant to
  Section 7-1-6.4 NMSA 1978, except that such agreement shall apply to such taxable transactions,
  and related distributions, reported from business locations on Santa Clara pueblo land annexed by
  a municipality after January 1, 1997."".
  
    3.  On page 3, line 21, before the period insert:
  
  "; provided that no credit shall be allowed against any gross receipts tax due on a transaction
  subject to the taxing authority of a municipality pursuant to a local option gross receipts tax act or
  distribution to a municipality from gross receipts taxes pursuant to Section 7-1-6.4 NMSA 1978,
  except that credit shall be allowed for such taxable transactions, and related distributions, reported
  from business locations on Santa Clara pueblo land annexed by the municipality after January 1,
  1997.". 
  
  
                                        ___________________________
                                        Ben Lujan
  
  Adopted ___________________   Not Adopted ___________________________
           (Chief Clerk)                       (Chief Clerk)
  
  
                  Date ________________