0001|                            SENATE BILL 95
    |
0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
    |
0003|                            INTRODUCED BY
    |
0004|                          JOHN ARTHUR SMITH
    |
0005|     
    |
0006|                                   
    |
0007|     
    |
0008|                                   
    |
0009|     
    |
0010|                                AN ACT
    |
0011|     RELATING TO TAXATION; AMENDING SECTION 7-9-53 NMSA 1978 (BEING
    |
0012|     LAWS 1969, CHAPTER 144, SECTION 43, AS AMENDED) TO CLARIFY THE
    |
0013|     DEDUCTION PERTAINING TO RENTAL OF MANUFACTURED HOMES TO
    |
0014|     INCLUDE CERTAIN RENTALS OF RECREATIONAL VEHICLES OR SPACE FOR
    |
0015|     RECREATIONAL VEHICLES; DECLARING AN EMERGENCY.
    |
0016|     
    |
0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0018|          Section 1.  Section 7-9-53 NMSA 1978 (being Laws 1969,
    |
0019|     Chapter 144, Section 43, as amended) is amended to read:
    |
0020|          "7-9-53.  DEDUCTION--GROSS RECEIPTS TAX--SALE OR LEASE OF
    |
0021|     REAL PROPERTY AND LEASE OF MANUFACTURED HOMES.--
    |
0022|               A.  Receipts from the sale or lease of real
    |
0023|     property and from the lease of a manufactured home as provided
    |
0024|     in Subsection B of this section, other than receipts from the
    |
0025|     sale or lease of oil, natural gas or mineral interests
    |
                                        - 1 -

0001|     exempted by Section 7-9-32 NMSA 1978, may be deducted from
    |
0002|     gross receipts.  However, that portion of the receipts from
    |
0003|     the sale of real property ~[which]~ |that| is attributable to
    |
0004|     improvements constructed on the real property by the seller in
    |
0005|     the ordinary course of his construction business may not be
    |
0006|     deducted from gross receipts.
    |
0007|               B.  Receipts from the rental of a manufactured home
    |
0008|     |or recreational vehicle| for a period of at least one month
    |
0009|     may be deducted from gross receipts. Receipts received by
    |
0010|     hotels, motels, rooming houses, campgrounds, guest ranches,
    |
0011|     trailer parks or similar facilities, except receipts received
    |
0012|     by trailer parks from the rental of a space for a manufactured
    |
0013|     home |or recreational vehicle| for a period of at least one
    |
0014|     month, from lodgers, guests, roomers or occupants are not
    |
0015|     receipts from leasing real property for the purposes of this
    |
0016|     section.
    |
0017|               C.  Receipts attributable to the inclusion of
    |
0018|     furniture or appliances furnished as part of a leased or
    |
0019|     rented dwelling house, manufactured home or apartment by the
    |
0020|     landlord or lessor may be deducted from gross receipts."
    |
0021|          Section 2.  EFFECTIVE DATE.--The effective date of the
    |
0022|     provisions of this act is April 1, 1998; provided, if this act
    |
0023|     passes without an emergency clause, the effective date of the
    |
0024|     provisions of this act is June 1, 1998.
    |
0025|          Section 3.  EMERGENCY.--It is necessary for the public
    |
                                        - 2 -

0001|     peace, health and safety that this act take effect
    |
0002|     immediately.
    |
0003|                              
    |