SB 204
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AN ACT
RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS
RECEIPTS FOR RECEIPTS FROM ADMISSIONS TO NONATHLETIC SPECIAL
EVENTS AT CERTAIN POST-SECONDARY EDUCATIONAL INSTITUTIONS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. A new section of the Gross Receipts and
Compensating Tax Act is enacted to read:
"DEDUCTION--GROSS RECEIPTS--NONATHLETIC SPECIAL EVENT AT
POST-SECONDARY EDUCATIONAL INSTITUTION.--Receipts received
from July 1, 2007 through June 30, 2012 from admissions to a
nonathletic special event held at a venue that is located on
the campus of a post-secondary educational institution within
fifty miles of the New Mexico border and that accommodates at
least ten thousand persons may be deducted from gross
receipts."