State of New Mexico House of Representatives FORTY-THIRD LEGISLATURE FIRST SESSION, 1997 February 28, 1997 Mr. Speaker: Your EDUCATION COMMITTEE, to whom has been referred HOUSE BILL 264 has had it under consideration and reports same with recommendation that it DO PASS, amended as follows: 1. On page 1, line 21, after "is" insert "the owner of". 2. On page 2, line 4, after "taxpayer" insert "who is the owner of a New Mexico business". 3. On page 2, line 5, strike "taxpayer" and insert in lieu thereof "business". 4. On page 2, line 14, after "credit" insert "pursuant to this section or Section 2 of this act". 5. On page 2, line 17, after "claim" strike the remainder of the line, strike all of lines 18 through 22 and insert in lieu thereof: "certification from the superintendent of public instruction, in a manner and form determined by the secretary, that the employees for whom the credit is being claimed are qualified students who are participants in the pilot program and information required by the secretary with respect to the students' employment by the taxpayer during the taxable year for which the credit is claimed.". 6. On page 3, line 12, after "partnership" insert ", limited partnership, limited liability company, S corporation". 7. On page 3, line 14, after "partnership" insert ", limited partnership, limited liability company, S corporation". 8. On page 3, line 15, strike "partnership or association" and insert in lieu thereof "business". 9. On page 4, line 1, after "company" insert "treated as a partnership for federal income tax purposes, S corporation". 10. On page 5, line 7, after "credit" insert "pursuant to this section or Section 1 of this act". 11. On page 5, line 10, after "claim", strike the remainder of the line, strike all of lines 11 through 15 and insert in lieu thereof: "certification from the superintendent of public instruction, in a manner and form determined by the secretary, that the employees for whom the credit is being claimed are qualified students who are participants in the pilot program and information required by the secretary with respect to the students' employment by the taxpayer during the taxable year for which the credit is claimed.". 12. On page 6, line 6, strike the comma and strike all of line 7. 13. On page 6, between lines 15 and 16, insert the following new section: "Section 3. DELAYED REPEAL.--Sections 1 and 2 of this act are repealed effective January 1, 1999." 14. Renumber the succeeding section accordingly., and thence referred to the TAXATION AND REVENUE COMMITTEE. Respectfully submitted, Samuel F. Vigil, Chairman Adopted Not Adopted (Chief Clerk) (Chief Clerk) Date The roll call vote was 12 For 0 Against Yes: 12 Excused: Nicely Absent: None .117804.1 G:\BILLTEXT\AMEND_97\H0264EC1