0001|                            HOUSE BILL 96
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                           ANNA MARIE CROOK
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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; ELIMINATING THE LEASED VEHICLE
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0012|     SURCHARGE; AMENDING AND REPEALING SECTIONS OF THE LEASED
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0013|     VEHICLE GROSS RECEIPTS TAX ACT.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|          Section 1.  Section 7-14A-4 NMSA 1978 (being Laws 1991,
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0017|     Chapter 197, Section 8, as amended) is amended to read:
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0018|          "7-14A-4.  PRESUMPTION OF TAXABILITY.--To prevent evasion
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0019|     of the leased vehicle gross receipts tax <s>[and the leased
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<s></s>0020| <s>    vehicle surcharge]</s> and to aid in <s>[their]</s> <u>its</u>
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0021|     administration, it is presumed that all receipts of a person
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0022|     engaging in business are subject to the leased vehicle gross
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0023|     receipts tax <s>[and that all vehicles leased by that person are
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<s></s>0024| <s>    subject to the leased vehicle surcharge]</s>."
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0025|          Section 2.  Section 7-14A-6 NMSA 1978 (being Laws 1991,
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<center>- 1 -</center>

0001|     Chapter 197, Section 10, as amended) is amended to read:
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0002|          "7-14A-6.  DATE PAYMENT DUE.--The tax <s>[and the
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<s></s>0003| <s>    surcharge]</s> imposed by the Leased Vehicle Gross Receipts Tax
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0004|     Act <s>[are]</s> <u>is</u>
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0005|     to be paid on or before the twenty-fifth day of the month
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0006|     following the month in which the taxable event occurs."
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0007|          Section 3.  Section 7-14A-11 NMSA 1978 (being Laws 1991,
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0008|     Chapter 197, Section 15, as amended) is amended to read:
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0009|          "7-14A-11.  ADMINISTRATION.--
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0010|               A.  The department shall interpret the provisions
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0011|     of the Leased Vehicle Gross Receipts Tax Act.
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0012|               B.  The department shall administer and enforce the
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0013|     collection of the leased vehicle gross receipts tax <s>[and the
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<s></s>0014| <s>    leased vehicle surcharge]</s>, and the Tax Administration Act
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0015|     applies to the administration and enforcement of the tax <s>[and
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<s></s>0016| <s>    the surcharge]</s>."
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0017|          Section 4.  REPEAL.--Section 7-14A-3.1 NMSA 1978 (being
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0018|     Laws 1993, Chapter 359, Section 1) is repealed.
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0019|          Section 5.  EFFECTIVE DATE.--The effective date of the
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0020|     provisions of this act is July 1, 1998.
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0021|                                  
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