0001| HOUSE JOINT MEMORIAL 11
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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| JOE M. STELL
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0008| FOR THE INTEGRATED WATER AND RESOURCE PLANNING COMMITTEE
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0009|
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0010| A JOINT MEMORIAL
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0011| REQUESTING A STUDY TO EVALUATE AND REPORT ON THE IMPACTS ON TAX
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0012| REVENUES RESULTANT FROM A RESTRUCTURE OF THE ELECTRIC UTILITY
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0013| INDUSTRY TO PERMIT RETAIL COMPETITION AND ALTERNATIVE SOLUTIONS
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0014| TO PRESERVE TAX REVENUES.
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0015|
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0016| WHEREAS, state and local taxes on electric utilities and
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0017| the sale of electricity include gross receipts, property and
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0018| income taxes; and
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0019| WHEREAS, any restructure of the electric industry to
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0020| permit retail competition or other substantial alternation of
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0021| regulation may impact the tax revenues derived from electric
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0022| utilities and the sale of electricity within the state due to
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0023| lowering electricity prices, shifting the market share from
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0024| more to less heavily taxed electric providers and declining
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0025| values of property owned by utilities; and
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0001| WHEREAS, the restructure of the electric industry to
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0002| permit retail competition may result in the various electric
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0003| service providers in the state being subject to different taxes
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0004| resulting in different economic status among providers in the
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0005| competitive environment, with taxes being increasingly borne by
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0006| electric service providers attempting to compete with each
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0007| other but with differing tax responsibilities; and
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0008| WHEREAS, tax assessment and imposition on aspects of a
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0009| competitive electricity market must adhere to constitutional
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0010| considerations in the regulation and impacting of interstate
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0011| commerce; and
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0012| WHEREAS, the financial interests of the state, its
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0013| political subdivisions and its residents require full and
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0014| comprehensive attention to the potential impacts on tax
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0015| revenues resultant from any restructure of the electric utility
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0016| industry and the sale of electricity within the state to ensure
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0017| that preservation of necessary tax revenues occurs;
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0018| NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
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0019| STATE OF NEW MEXICO that the local government division of the
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0020| department of finance and administration, the state department
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0021| of public education, the taxation and revenue department and
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0022| the New Mexico public utility commission study and evaluate the
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0023| reasonably projected impacts on tax revenues of any restructure
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0024| of the electric utility industry to permit retail competition
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0025| in the sale of electricity in the state and alternative tax
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0001| structures and schemes to ensure the preservation of necessary
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0002| tax revenues to the state and its political subdivisions for
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0003| its residents and report their findings and recommendations to
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0004| the second session of the forty-third legislature; and
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0005| BE IT FURTHER RESOLVED that copies of this memorial be
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0006| sent to the secretaries of finance and administration and
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0007| taxation and revenue, the superintendent of public instruction
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0008| and the chairman of the New Mexico public utility commission.
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0023|
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0024| State of New Mexico
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0025| House of Representatives
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0001|
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0002| FORTY-THIRD LEGISLATURE
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0003| FIRST SESSION, 1997
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0004|
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0005|
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0006| February 3, 1997
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0007|
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0008|
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0009| Mr. Speaker:
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0010|
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0011| Your ENERGY AND NATURAL RESOURCES COMMITTEE, to
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0012| whom has been referred
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0013|
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0014| HOUSE JOINT MEMORIAL 11
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0015|
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0016| has had it under consideration and reports same with
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0017| recommendation that it DO PASS, amended as follows:
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0018|
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0019| 1. On page 2, line 19, after the first occurrence of "the"
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0020| insert "taxation and revenue department in cooperation with the".
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0021|
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0022| 2. On page 2, line 21, strike "the taxation and revenue
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0023| department".,
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0024|
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0025| and thence referred to the TAXATION AND REVENUE
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0001| COMMITTEE.
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0002|
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0003| Respectfully submitted,
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0004|
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0008|
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0009| James Roger Madalena, Chairman
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0010|
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0011|
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0012| Adopted Not Adopted
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0013|
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0014| (Chief Clerk) (Chief Clerk)
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0015|
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0016| Date
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0017|
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0018| The roll call vote was 7 For 0 Against
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0019| Yes: 7
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0020| Excused: Getty, Picraux, Ryan, Salazar, Stewart
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0021| Absent: None
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0023|
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0024|
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0025| G:\BILLTEXT\BILLW_97\HJ011 State of New Mexico
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0001| House of Representatives
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0002|
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0003| FORTY-THIRD LEGISLATURE
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0004| FIRST SESSION, 1997
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0005|
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0006|
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0007| February 12, 1997
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0008|
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0009|
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0010| Mr. Speaker:
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0011|
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0012| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0013| been referred
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0014|
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0015| HOUSE JOINT MEMORIAL 11, as amended
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0016|
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0017| has had it under consideration and reports same with
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0018| recommendation that it DO PASS.
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0019|
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0020| Respectfully submitted,
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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|
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0001| Jerry W. Sandel, Chairman
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0002|
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0003|
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0004| Adopted Not Adopted
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0005|
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0006| (Chief Clerk) (Chief Clerk)
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0008| Date
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0009|
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0010| The roll call vote was 10 For 0 Against
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0011| Yes: 10
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0012| Excused: Gonzales, Parsons, Porter
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0013| Absent: None
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0014|
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0015|
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0016| G:\BILLTEXT\BILLW_97\HJ011
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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| March 12, 1997
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0023|
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0024| Mr. President:
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0025|
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0001| Your CONSERVATION COMMITTEE, to whom has been referred
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0002|
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0003| HOUSE JOINT MEMORIAL 11, as amended
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0004|
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0005| has had it under consideration and reports same with
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0006| recommendation that it DO PASS, and thence referred to the
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0007| WAYS & MEANS COMMITTEE.
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0008|
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0009| Respectfully submitted,
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0014| __________________________________
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0015| Michael S. Sanchez, Chairman
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0017|
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0018|
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0019| Adopted_______________________ Not
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0020| Adopted_______________________
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0021| (Chief Clerk) (Chief Clerk)
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002| The roll call vote was 6 For 0 Against
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0003| Yes: 6
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0004| No: None
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0005| Excused: Eisenstadt, Feldman, Kysar, Tsosie
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0006| Absent: None
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0007|
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0008|
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0009| HJ011C01
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0010|
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0011|
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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 19, 1997
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0018|
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0019| Mr. President:
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0020|
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0021| Your WAYS AND MEANS COMMITTEE, to whom has been
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0022| referred
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0023|
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0024| HOUSE JOINT MEMORIAL 11, as amended
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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.
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0003|
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0004| Respectfully submitted,
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0008|
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0009| __________________________________
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0010| Carlos R. Cisneros, Chairman
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0012|
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0013|
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0014| Adopted_______________________ Not
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0015| Adopted_______________________
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0016| (Chief Clerk) (Chief Clerk)
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0017|
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0018|
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0019|
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0020| Date ________________________
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0021|
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0022|
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0023| The roll call vote was 8 For 0 Against
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0024| Yes: 8
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0025| No: 0
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0001| Excused: McSorley
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0002| Absent: None
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0003|
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0004|
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0005| HJ011WM1
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