0001| HOUSE BILL 1391
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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| JERRY W. SANDEL
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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; CHANGING THE RATE OF TAX IMPOSED BY THE
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0012| RAILROAD CAR COMPANY TAX ACT; DECLARING AN EMERGENCY.
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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 7-11-3 NMSA 1978 (being Laws 1982,
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0016| Chapter 18, Section 19, as amended) is amended to read:
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0017| "7-11-3. IMPOSITION OF TAX--TAX RATE--TAX IN LIEU OF
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0018| PROPERTY TAXES.--
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0019| A. There is imposed on the gross earnings of each
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0020| organization for the [1987] 1996 and subsequent calendar
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0021| years a tax of [three] one and one-half percent.
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0022| B. The tax imposed in Subsection A of this section
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0023| is in lieu of all property taxes on railway cars owned by an
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0024| organization."
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0025| Section 2. EMERGENCY.--It is necessary for the public
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0001| peace, health and safety that this act take effect immediately.
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0002| State of New Mexico
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0003| House of Representatives
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0004|
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0005| FORTY-THIRD LEGISLATURE
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0006| FIRST SESSION, 1997
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0007|
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0008|
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0009| March 10, 1997
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0010|
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0011|
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0012| Mr. Speaker:
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0013|
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0014| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0015| been referred
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0016|
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0017| HOUSE BILL 1391
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0018|
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0019| has had it under consideration and reports same with
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0020| recommendation that it DO PASS.
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0021|
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0022| Respectfully submitted,
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0023|
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0024|
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0025|
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0001|
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0002|
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0003| Jerry W. Sandel, Chairman
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0004|
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0005|
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0006| Adopted Not Adopted
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0007|
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0008| (Chief Clerk) (Chief Clerk)
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0009|
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0010| Date
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0011|
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0012| The roll call vote was 12 For 0 Against
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0013| Yes: 12
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0014| Excused: Porter
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0015| Absent: None
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0016|
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0017|
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0018| G:\BILLTEXT\BILLW_97\H1391
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0019|
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0020| FORTY-THIRD LEGISLATURE
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0021| FIRST SESSION, 1997
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0022|
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0023|
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0024| March 17, 1997
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0025|
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0001| Mr. President:
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0002|
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0003| Your WAYS AND MEANS COMMITTEE, to whom has been
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0004| referred
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0005|
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0006| HOUSE BILL 1391
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0007|
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0008| has had it under consideration and reports same with
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0009| recommendation that it DO PASS.
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0010|
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0011| Respectfully submitted,
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0012|
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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| Carlos R. Cisneros, Chairman
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0018|
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0019|
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0020|
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0021| Adopted_______________________ Not
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0022| Adopted_______________________
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0023| (Chief Clerk) (Chief Clerk)
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0024|
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0025|
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0001|
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0002| Date ________________________
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0003|
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0004|
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0005| The roll call vote was 7 For 0 Against
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0006| Yes: 7
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0007| No: 0
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0008| Excused: McSorley, Nava
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0009| Absent: None
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0010|
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0011|
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0012| H1391WM1
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