FORTY-THIRD LEGISLATURE
                        SECOND SESSION, 1998             SB 331/a
  
  
                                                February 11, 1998
  
  Mr. President:
  
      Your WAYS AND MEANS COMMITTEE, to whom has been referred
  
                          SENATE BILL 331
  
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
      1.  On page 1, strike lines 15 and 16 and insert in lieu
  thereof the following new section:
  
      "Section 1.  Section 7-12-7 NMSA 1978 (being Laws 1971,
  Chapter 77, Section 7, as amended) is amended to read:
  
      "7-12-7.  SALE OF STAMPS <s>[PRICES]</s>.--
  
          A.  The department shall sell stamps to any person who
  sells in New Mexico cigarettes manufactured by that person and to
  any person who receives on consignment or buys unstamped
  cigarettes for sale, gift or consumption in New Mexico, provided
  such persons are registered with the department under the
  provisions of Section 7-1-12 NMSA 1978. Stamps shall be sold at
  their face value. <s>[with the following discounts:
  
               (1)  four percent less than the face value of the
  first thirty thousand dollars ($30,000) of stamps purchased in one
  calendar month;
  
               (2)  three percent less than the face value of the
  second thirty thousand dollars ($30,000) of stamps purchased in
  one calendar month; and
  
               (3)  two percent less than the face value of all
  stamps purchased in excess of sixty thousand dollars ($60,000) in
  one calendar month.
  
  
  
          B.  If the face value of stamps sold in a single sale is
  less than one thousand dollars ($1,000), the discount provided for
  in this section shall not be allowed.
  
          C.]</s> <u>B.</u>  Payment for stamps shall be made on or before
  the twenty-fifth day of the month following the month in which the
  sale of stamps by the department is made."".
  
  
                               Respectfully submitted,
  
  
  
                               __________________________________
                               Carlos R. Cisneros, Chairman 
  
  
  
  Adopted_______________________   Not Adopted_______________________
            (Chief Clerk)                          (Chief Clerk)
  
  
                    Date ________________________
  
  
  The roll call vote was <u> 5 </u> For <u> 0 </u> Against
          Yes:    5
          No:     0
  Excused: Duran, Kidd, Leavell, Nava
          Absent: None
  
  
  S0331WM1                                              .123171.1