0001|                            HOUSE BILL 277
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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|                             GARY K. KING
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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; EXEMPTING RECEIPTS FROM OPERATION OF A
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0012|     LICENSED NURSING FACILITY FROM THE GROSS RECEIPTS TAX.
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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.  A new section of the Gross Receipts and
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0016|     Compensating Tax Act is enacted to read:
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0017|          "[<u>NEW MATERIAL</u>] EXEMPTION--GROSS RECEIPTS TAX--LICENSED
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0018|     NURSING FACILITIES.--Exempted from the gross receipts tax are
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0019|     the receipts of a facility licensed as a nursing facility by
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0020|     the department of health."
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0021|          Section 2.  EFFECTIVE DATE.--The effective date of the
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0022|     provisions of this act is July 1, 1998.
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0023|     .120917.1
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