FORTY-THIRD LEGISLATURE
                        SECOND SESSION, 1998
  
  
                                                 February 6, 1998
  
  
  Mr. Speaker:
  
       Your TAXATION AND REVENUE COMMITTEE, to whom has
  been referred
  
                        HOUSE BILL 226
  
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 1, between lines 21 and 22, insert the following new
  section:
  
  
      "Section 2.  Section 7-1-15 NMSA 1978 (being Laws 1969, Chapter 31,
  Section 1, as amended) is amended to read:
  
      "7-1-15.  SECRETARY MAY SET TAX REPORTING AND PAYMENT INTERVALS.--The
  secretary may, pursuant to regulation, allow taxpayers with an anticipated
  tax liability of less than two hundred dollars ($200) a month to report and
  pay taxes at intervals which the secretary may specify.  However, unless
  specifically permitted by law, an interval shall not exceed six months.  The
  secretary may also allow direct marketers who have entered into an agreement
  with the department to collect and remit compensating tax to report and pay
  on a quarterly or semi-annual basis."".,
  
  and thence referred to the APPROPRIATIONS AND FINANCE 
  COMMITTEE.
  
                           Respectfully submitted,
  
  
  
                                                            
                                                    Jerry W. Sandel, Chairman
  
  
                                   Adopted                          Not Adopted                         
          (Chief Clerk)                                       (Chief Clerk)
  
                        Date                
  
  The roll call vote was  10  For  0  Against
  Yes:         10
          No:     0
               Excused:     Gonzales, Ryan, Whitaker
          Absent: None
  
  
  .121519
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