HOUSE BILL 210
52nd legislature - STATE OF NEW MEXICO - first session, 2015
RELATING TO TAXATION; EXEMPTING POLLUTION-CONTROL EQUIPMENT FROM GROSS RECEIPTS.
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:
"[NEW MATERIAL] EXEMPTION--GROSS RECEIPTS TAX--POLLUTION-CONTROL EQUIPMENT.--
A. Exempted from the gross receipts tax are the receipts from the sale of pollution-control equipment.
B. As used in this section, "pollution-control equipment" means tangible property that is to be used for the purpose of meeting or exceeding rules adopted by the United States environmental protection agency, the department of environment or a political subdivision of the state of New Mexico to prevent, monitor, control or reduce air, water or land pollution."
SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2015.
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