0001| HOUSE BILL 1300
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| WILLIAM E. PORTER
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO TAXATION; BROADENING THE APPLICATION OF THE GROSS
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0012| RECEIPTS TAX DEDUCTION FOR SPACE-RELATED RECEIPTS.
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0013|
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0014| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015| Section 1. Section 7-9-54.2 NMSA 1978 (being Laws 1995,
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0016| Chapter 183, Section 2) is amended to read:
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0017| "7-9-54.2. GROSS RECEIPTS--DEDUCTION--SPACEPORT
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0018| OPERATION--LAUNCHING AND RECOVERY OF SPACE LAUNCH VEHICLES--
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0019| PAYLOAD SERVICES.--
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0020| A. Receipts from [operating a spaceport]
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0021| launching or recovering space launch vehicles or payloads in
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0022| New Mexico may be deducted from gross receipts.
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0023| B. Receipts from preparing a payload for
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0024| launching [or recovering space launch vehicles or payloads
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from a spaceport] in New Mexico are deductible from gross
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0001| receipts.
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0002| C. Receipts from [preparing a payload for
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launching at] operating a spaceport in New Mexico are
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0004| deductible from gross receipts.
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0005| D. As used in this section:
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0006| (1) "payload" includes systems, subsystems and
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0007| mechanical structures required to perform or conduct research
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0008| and development on or to conduct operations of space functions,
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0009| such as reconnaissance, communications, navigation and target
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0010| simulations, but does not include weapons;
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0011| (2) "space" means any location beyond
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0012| altitudes of sixty thousand feet above the earth's mean sea
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0013| level; and
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0014| (3) "spaceport" means [a facility designed
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and operated primarily] an installation and related
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0016| facilities used for the launching [or], landing, recovery
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0017| [of space launch], servicing and monitoring of vehicles
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0018| [or payloads] capable of entering or returning from space.
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0019| E. Receipts from the sale of tangible personal
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0020| property that will become an ingredient or component part of a
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0021| construction project or from performing construction services
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0022| may not be deducted under this section."
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0023| State of New Mexico
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0024| House of Representatives
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0025|
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0001| FORTY-THIRD LEGISLATURE
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0002| FIRST SESSION, 1997
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0003|
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0004|
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0005| March 6, 1997
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0006|
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0007|
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0008| Mr. Speaker:
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0009|
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0010| Your CONSUMER AND PUBLIC AFFAIRS COMMITTEE, to
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0011| whom has been referred
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0012|
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0013| HOUSE BILL 1300
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0014|
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0015| has had it under consideration and reports same with
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0016| recommendation that it DO PASS, and thence referred to the
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0017| TAXATION AND REVENUE COMMITTEE.
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0018|
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0019| Respectfully submitted,
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0020|
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0021|
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0022|
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0023|
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0024|
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0025| Gary King, Chairman
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0001|
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0002|
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0003| Adopted Not Adopted
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0004|
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0005| (Chief Clerk) (Chief Clerk)
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0006|
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0007| Date
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0008|
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0009| The roll call vote was 6 For 0 Against
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0010| Yes: 6
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0011| Excused: Heaton, King, Rios, Vigil
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0012| Absent: None
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0013|
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0014|
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0015| G:\BILLTEXT\BILLW_97\H1300State of New Mexico
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0016| House of Representatives
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0017|
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0018| FORTY-THIRD LEGISLATURE
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0019| FIRST SESSION, 1997
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0020|
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0021|
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0022|
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0023|
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0024|
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0025| Mr. Speaker:
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0001|
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0002| Your COMMITTEE, to whom has
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0003| been referred
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0004|
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0005|
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0006|
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0007| has had it under consideration and reports same with
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0008| recommendation that it DO PASS, and thence referred to the
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0009|
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0010| COMMITTEE.
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0011|
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0012| Respectfully submitted,
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0013|
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0014|
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0015|
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0016|
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0017|
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0018| , Chairman
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0019|
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0020|
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0021| Adopted Not Adopted
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0022|
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0023| (Chief Clerk) (Chief Clerk)
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0024|
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0025| Date
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0001|
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0002| The roll call vote was For Against
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0003| Yes:
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0004| No:
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0005| Excused:
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0006| Absent:
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0007|
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0008|
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0009| G:\BILLTEXT\BILLW_97\H1300 State of New Mexico
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0010| House of Representatives
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0011|
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0012| FORTY-THIRD LEGISLATURE
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0013| FIRST SESSION, 1997
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0014|
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0015|
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0016| March 17, 1997
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0017|
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0018|
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0019| Mr. Speaker:
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0020|
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0021| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0022| been referred
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0023|
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0024| HOUSE BILL 1300
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0025|
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0001| has had it under consideration and reports same with
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0002| recommendation that it DO PASS, amended as follows:
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0003|
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0004| 1. On page 1, line 12, after the second "RECEIPTS" insert
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0005| "; PROVIDING FOR A DELAYED REPEAL".
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0006|
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0007| 2. On page 2, between lines 20 and 21, insert the following
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0008| new section:
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0009|
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0010| "Section 2. DELAYED REPEAL.--Section 7-9-54.2 NMSA
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0011| 1978 (being laws 1995, Chapter 183, Section 2) is repealed
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0012| effective June 30, 2001.".
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0013|
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0014| Respectfully submitted,
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0015|
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0016|
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0017|
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0018|
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0019|
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0020| Jerry W. Sandel, Chairman
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0021|
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0022|
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0023| Adopted Not Adopted
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0024|
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0025| (Chief Clerk) (Chief Clerk)
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0001|
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0002| Date
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0003|
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0004| The roll call vote was 10 For 0 Against
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0005| Yes: 10
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0006| Excused: Lovejoy, Russell, Sandoval
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0007| Absent: None
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0008|
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0009|
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0010| .119091.1
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0011| G:\BILLTEXT\BILLW_97\H1300
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0012|
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0013| FORTY-THIRD LEGISLATURE
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0014| FIRST SESSION, 1997
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0015|
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0016|
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0017| March 20, 1997
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0018|
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0019| Mr. President:
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0020|
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0021| Your FINANCE COMMITTEE, to whom has been referred
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0022|
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0023| HOUSE BILL 1300, as amended
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0024|
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0025| has had it under consideration and reports same with
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0001| recommendation that it DO PASS.
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0002|
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0003| Respectfully submitted,
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0004|
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0005|
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0006|
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0007|
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0008| __________________________________
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0009| Ben D. Altamirano, Chairman
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0010|
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0011|
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0012|
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0013| Adopted_______________________ Not
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0014| Adopted_______________________
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0015| (Chief Clerk) (Chief Clerk)
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0016|
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0017|
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0018|
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0019| Date ________________________
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0020|
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0021|
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0022| The roll call vote was 6 For 0 Against
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0023| Yes: 6
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0024| No: None
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0025| Excused: Aragon, Carraro, Eisenstadt, Ingle, McKibben
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0001| Absent: None
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0002|
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0003|
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0004| H1300FC1
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