0001| HOUSE BILL 38
|
0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
|
0003| INTRODUCED BY
|
0004| DAVID M. PARSONS
|
0005|
|
0006|
|
0007|
|
0008| FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE
|
0009|
|
0010| AN ACT
|
0011| RELATING TO TAXATION; PROVIDING FOR VALUATION OF HIGHWAY
|
0012| CONTRACTORS' TANGIBLE PERSONAL PROPERTY LOCATED IN NEW MEXICO;
|
0013| PROVIDING PENALTIES.
|
0014|
|
0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
|
0016| Section 1. A new section of the Property Tax Code is
|
0017| enacted to read:
|
0018| "[NEW MATERIAL] VALUATION DATE--TANGIBLE PERSONAL
|
0019| PROPERTY--HIGHWAY CONTRACTORS.--
|
0020| A. All tangible personal property of highway
|
0021| contractors located in the state shall be valued for property
|
0022| taxation purposes as of January 1, except as provided in
|
0023| Subsection B of this section.
|
0024| B. All tangible personal property of highway
|
0025| contractors not located in the state on January 1 but brought
|
0001| into the state and located there for more than twenty days
|
0002| subsequent to January 1 shall be valued for property taxation
|
0003| purposes as of the first day of the month following the month
|
0004| in which they have remained in the state for more than twenty
|
0005| days.
|
0006| C. The highway contractor whose tangible personal
|
0007| property is subject to valuation for property taxation purposes
|
0008| shall report the property for valuation to the department on
|
0009| the valuation date specified in Subsection A or B of this
|
0010| section and shall include in the report the time period during
|
0011| which the property will be located in the state. The
|
0012| contractor's report shall be in a form and contain the
|
0013| information required by the department regulations and shall be
|
0014| made no later than:
|
0015| (1) the last day of February for tangible
|
0016| personal property required to be valued as of the first day of
|
0017| January of the tax year; or
|
0018| (2) ten days after the valuation date
|
0019| determined under Subsection B of this section for tangible
|
0020| personal property required to be valued as of a date other than
|
0021| that in Paragraph (1) of this subsection.
|
0022| D. The department shall adopt regulations for the
|
0023| allocation of the value of tangible personal property of
|
0024| highway contractors, which regulations shall provide for:
|
0025| (1) a basic allocation formula that prorates
|
0001| value on the basis of the amount of time that the tangible
|
0002| personal property is in the state and subject to valuation for
|
0003| property taxation purposes;
|
0004| (2) determining proration of value under
|
0005| Paragraph (1) of this subsection using estimates of the amount
|
0006| of time that the tangible personal property will be in the
|
0007| state to cover those situations in which tangible personal
|
0008| property is imported for an indeterminate time during a tax
|
0009| year; and
|
0010| (3) a method of allocating the value of the
|
0011| tangible personal property among different governmental units
|
0012| when the tangible personal property is located in more than one
|
0013| governmental unit.
|
0014| E. Any person who intentionally refuses to make a
|
0015| report required of him under this section or who knowingly
|
0016| makes a false statement in a report required under this section
|
0017| is guilty of a misdemeanor and shall be punished by imposition
|
0018| of a fine of not more than one thousand dollars ($1,000).
|
0019| F. Any person who fails to make a report required
|
0020| of him under this section is liable for a civil penalty in an
|
0021| amount equal to five percent of the property taxes ultimately
|
0022| determined to be due on the property for the tax year or years
|
0023| for which he failed to make the required report.
|
0024| G. Any person who intentionally refuses to make a
|
0025| report required of him under this section with the intent to
|
0001| evade any tax or who fails to make a report required of him
|
0002| under this section with the intent to evade any tax is liable
|
0003| for a civil penalty in an amount equal to twenty-five percent
|
0004| of the property taxes ultimately determined to be due on the
|
0005| property for the tax year or years for which he refused or
|
0006| failed to make the required report.
|
0007| H. The civil penalties authorized under Subsections
|
0008| F and G of this section shall be imposed and collected at the
|
0009| time and in the manner that the tax is imposed and collected.
|
0010| In order to assist in the imposition and collection of the
|
0011| penalties, the person having responsibility for determining the
|
0012| value of the property shall make an entry in the valuation
|
0013| records indicating the liability for any penalties due under
|
0014| this section."
|
0015| Section 2. Section 7-38-7 NMSA 1978 (being Laws 1973,
|
0016| Chapter 258, Section 47) is amended to read:
|
0017| "7-38-7. VALUATION DATE.--All property subject to
|
0018| valuation for property taxation purposes shall be valued as of
|
0019| January 1 of each tax year, except that livestock shall be
|
0020| valued as of the date and in the manner prescribed under
|
0021| Section [72-29-10 NMSA 1953] 7-36-21 NMSA 1978 and tangible
|
0022| personal property of highway contractors shall be valued as of
|
0023| the date and in the manner prescribed under Section 1 of this
|
0024| act."
|
0025| Section 3. APPLICABILITY.--The provisions of this act
|
0001| apply to the 1998 and subsequent property tax years.
|
0002|
|
0003| State of New Mexico
|
0004| House of Representatives
|
0005|
|
0006| FORTY-THIRD LEGISLATURE
|
0007| FIRST SESSION, 1997
|
0008|
|
0009|
|
0010| February 26, 1997
|
0011|
|
0012|
|
0013| Mr. Speaker:
|
0014|
|
0015| Your TAXATION AND REVENUE COMMITTEE, to whom has
|
0016| been referred
|
0017|
|
0018| HOUSE BILL 38
|
0019|
|
0020| has had it under consideration and reports same with
|
0021| recommendation that it DO PASS, amended as follows:
|
0022|
|
0023| 1. On page 1, line 11, strike "HIGHWAY" and insert in lieu
|
0024| thereof "CONSTRUCTION".
|
0025|
|
0001| 2. On page 1, line 19, strike "HIGHWAY" and insert in lieu
|
0002| thereof "CONSTRUCTION".
|
0003|
|
0004| 3. On page 1, line 20, strike "highway" and insert in lieu
|
0005| thereof "construction".
|
0006|
|
0007| 4. On page 1, line 24, strike "highway" and insert in lieu
|
0008| thereof "construction".
|
0009|
|
0010| 5. On page 2, line 5, strike "highway" and insert in lieu
|
0011| thereof "construction".
|
0012|
|
0013| 6. On page 2, line 7, strike "department" and insert in
|
0014| lieu thereof "entity having responsibility for valuation of the
|
0015| property in accordance with Section 7-36-2 NMSA 1978".
|
0016|
|
0017| 7. On page 2, line 9, before "time" insert "actual or
|
0018| estimated".
|
0019|
|
0020| 8. On page 2, line 10, before "will" insert "has been and".
|
0021|
|
0022| 9. On page 2, line 21, strike "highway" and insert in lieu
|
0023| thereof "construction".
|
0024|
|
0025|
|
0001|
|
0002|
|
0003|
|
0004|
|
0005|
|
0006| 10. On page 4, line 19, strike "highway" and insert in lieu
|
0007| thereof "construction".,
|
0008|
|
0009| and thence referred to the JUDICIARY COMMITTEE.
|
0010|
|
0011| Respectfully submitted,
|
0012|
|
0013|
|
0014|
|
0015|
|
0016|
|
0017| Jerry W. Sandel, Chairman
|
0018|
|
0019|
|
0020| Adopted Not Adopted
|
0021|
|
0022| (Chief Clerk) (Chief Clerk)
|
0023|
|
0024| Date
|
0025|
|
0001| The roll call vote was 9 For 0 Against
|
0002| Yes: 9
|
0003| Excused: Gubbels, Porter, Sandoval, Stell
|
0004| Absent: None
|
0005|
|
0006|
|
0007| .117735.1
|
0008| G:\BILLTEXT\BILLW_97\H0038 State of New Mexico
|
0009| House of Representatives
|
0010|
|
0011| FORTY-THIRD LEGISLATURE
|
0012| FIRST SESSION, 1997
|
0013|
|
0014|
|
0015| March 12, 1997
|
0016|
|
0017|
|
0018| Mr. Speaker:
|
0019|
|
0020| Your JUDICIARY COMMITTEE, to whom has been referred
|
0021|
|
0022| HOUSE BILL 38, as amended
|
0023|
|
0024| has had it under consideration and reports same with
|
0025| recommendation that it DO PASS.
|
0001|
|
0002| Respectfully submitted,
|
0003|
|
0004|
|
0005|
|
0006|
|
0007|
|
0008| Thomas P. Foy, Chairman
|
0009|
|
0010|
|
0011| Adopted Not Adopted
|
0012|
|
0013| (Chief Clerk) (Chief Clerk)
|
0014|
|
0015| Date
|
0016|
|
0017| The roll call vote was 9 For 0 Against
|
0018| Yes: 9
|
0019| Excused: Alwin, Rios, Sanchez, Stewart
|
0020| Absent: None
|
0021|
|
0022|
|
0023| G:\BILLTEXT\BILLW_97\H0038 State of New Mexico
|
0024| House of Representatives
|
0025|
|
0001| FORTY-THIRD LEGISLATURE
|
0002| FIRST SESSION, 1997
|
0003|
|
0004|
|
0005| March 12, 1997
|
0006|
|
0007|
|
0008| Mr. Speaker:
|
0009|
|
0010| Your JUDICIARY COMMITTEE, to whom has been referred
|
0011|
|
0012| HOUSE BILL 38, as amended
|
0013|
|
0014| has had it under consideration and reports same with
|
0015| recommendation that it DO PASS.
|
0016|
|
0017| Respectfully submitted,
|
0018|
|
0019|
|
0020|
|
0021|
|
0022|
|
0023| Thomas P. Foy, Chairman
|
0024|
|
0025|
|
0001| Adopted Not Adopted
|
0002|
|
0003| (Chief Clerk) (Chief Clerk)
|
0004|
|
0005| Date
|
0006|
|
0007| The roll call vote was 9 For 0 Against
|
0008| Yes: 9
|
0009| Excused: Alwin, Rios, Sanchez, Stewart
|
0010| Absent: None
|
0011|
|
0012|
|
0013| G:\BILLTEXT\BILLW_97\H0038
|
0014|
|
0015| FORTY-THIRD LEGISLATURE
|
0016| FIRST SESSION, 1997
|
0017|
|
0018|
|
0019| March 19, 1997
|
0020|
|
0021| Mr. President:
|
0022|
|
0023| Your WAYS AND MEANS COMMITTEE, to whom has been
|
0024| referred
|
0025|
|
0001| HOUSE BILL 38, as amended
|
0002|
|
0003| has had it under consideration and reports same with
|
0004| recommendation that it DO PASS.
|
0005|
|
0006| Respectfully submitted,
|
0007|
|
0008|
|
0009|
|
0010|
|
0011| __________________________________
|
0012| Carlos R. Cisneros, Chairman
|
0013|
|
0014|
|
0015|
|
0016| Adopted_______________________ Not
|
0017| Adopted_______________________
|
0018| (Chief Clerk) (Chief Clerk)
|
0019|
|
0020|
|
0021|
|
0022| Date ________________________
|
0023|
|
0024|
|
0025| The roll call vote was 7 For 0 Against
|
0001| Yes: 7
|
0002| No: 0
|
0003| Excused: Duran, McSorley
|
0004| Absent: None
|
0005|
|
0006|
|
0007| H0038WM1
|