March 10, 1999

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 124

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 2, line 13, after "for" strike the remainder of the line and strike line 14 up to the period and insert in lieu thereof "capital outlay as defined in the manual of accounting and budgeting provided in Section 22-8-5 NMSA 1978".

2. On page 3, line 2, after "for" strike the remainder of the line and strike line 3 up to the semicolon and insert in lieu thereof "capital outlay as defined in the manual of accounting and budgeting provided in Section 22-8-5 NMSA 1978".

3. On page 3, line 15, after "for" strike the remainder of the line and strike line 16 up to the period and insert in lieu thereof "capital outlay as defined in the manual of accounting and budgeting provided in Section 22-8-5 NMSA 1978".

4. On pages 5 through 7, strike Subsection G in its entirety.

Respectfully submitted,

Jerry W. Sandel, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 11 For 0 Against

Yes: 11

Excused: Lujan

Absent: Gubbels, Herrera, Russell

.128640.1

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