March 14, 2003
Mr. Speaker:
Your TAXATION AND REVENUE COMMITTEE, to whom has been referred
HOUSE BILL 229
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 3, line 22, strike "and".
2. On page 3, between lines 22 and 23, insert the following new paragraph:
"(4) a valuation for property taxation purposes exceeding two hundred million dollars ($200,000,000) and that has all county gross receipts tax increments authorized pursuant to Section 7-20E-9 NMSA 1978 in effect on July 1 of the year in which a distribution is made; and".
3. Renumber the succeeding paragraph accordingly.
4. On page 7, strike lines 15 through 24 in their entirety and insert in lieu thereof:
"If the county's total valuation for the preceding property tax year is:
| at least: | but less
than: |
and the county
population is: |
then the distribution amount is: |
| $ 0 | $100,000,000 | under 4,000 | $275,000 |
| $ 0 | $100,000,000 | over 4,000 | $250,000 |
| $ 100,000,000 | $210,000,000 | under 12,000 | $175,000 |
| $ 100,000,000 | $210,000,000 | over 12,000 | $100,000 |
| $ 210,000,000 | $1,400,000,000 | under 48,000 | $ 50,000.". |
Respectfully submitted,
Donald L. Whitaker, Chairman
Adopted Not Adopted
(Chief Clerk) (Chief Clerk)
The roll call vote was 16 For 0 Against
Yes: 16
Excused: None
Absent: None
.146832.4
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