State of New Mexico House of Representatives FORTY-THIRD LEGISLATURE FIRST SESSION, 1997 March 10, 1997 Mr. Speaker: Your TAXATION AND REVENUE COMMITTEE, to whom has been referred HOUSE BILL 141 has had it under consideration and reports same with recommendation that it DO PASS, amended as follows: 1. On page 3, line 9, strike the closing quotation mark and between lines 9 and 10, insert the following new subsection: "E. Nothing in an agreement entered into pursuant to this section shall apply to a taxable transaction subject to the taxing authority of a municipality pursuant to a local option gross receipts tax act."". 2. On page 3, line 21, before the period insert: ", provided that no credit shall be allowed against any gross receipts tax due on a transaction subject to the taxing authority of a municipality pursuant to a local option gross receipts tax act"., and thence referred to the JUDICIARY COMMITTEE. Respectfully submitted, Jerry W. Sandel, Chairman Adopted Not Adopted (Chief Clerk) (Chief Clerk) Date The roll call vote was 12 For 0 Against Yes: 12 Excused: Porter Absent: None .118130.1 G:\BILLTEXT\AMEND_97\H0141TR1