March 1, 1999

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 255

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

1. On page 1, lines 12 and 13, strike "NEW MEXICO FINANCE AUTHORITY" and insert in lieu thereof "STATE BOARD OF FINANCE".

2. On page 3, line 4, after "issued" insert "by the state board of finance".

3. On page 3, strike line 6 through "finance".

4. On page 3, line 7, after "and" strike the remainder of the line and strike line 8 through "as".

5. On page 3, lines 12 and 13, strike "AND NEW MEXICO FINANCE AUTHORITY".

6. On page 3, line 19, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

7. On page 4, line 17, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

8. On page 5, line 16, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

9. On page 5, line 20, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

10. On page 6, line 18, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

11. On page 6, line 25 and page 7, line 1, strike "seventy-five" and insert in lieu thereof "sixty-two and one-half".

12. On page 7, lines 5 and 6, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

13. On page 7, strike Section 8 in its entirety.

14. Renumber the succeeding sections accordingly.

15. On page 8, line 11, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

16. On page 8, line 22, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

17. On page 9, line 19, after the first occurrence of "the" insert "state".

18. On page 9, lines 19 and 20, strike "of the New Mexico finance authority".

19. On page 9, line 21, strike "chairman of the New Mexico finance authority" and insert in lieu thereof "governor".

20. On page 9, line 22, strike "New Mexico finance authority" and insert in lieu thereof "state".

21. On page 10, line 1, after the first occurrence of "the" insert "state".

22. On page 10, line 1, strike "of the New Mexico finance authority".

23. On page 10, lines 6 and 7, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

24. On page 11, line 17, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

25. On page 11, line 18, strike "authority" and insert in lieu thereof "board".

26. On page 11, lines 20 and 21, strike "New Mexico Finance Authority" and insert in lieu thereof "Severance Tax Bonding".

27. On page 12, line 25 and page 13, line 1, strike "New Mexico finance authority" and insert in lieu thereof "state board of finance".

28. On page 13, lines 5 and 6, strike "and the New Mexico Finance Authority Act".

29. On page 13, line 9, strike "respectively,".

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: Burpo

Absent: Gonzales, Hawkins, Russell

.128186.1

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