State of New Mexico
                      House of Representatives
  
                      FORTY-THIRD LEGISLATURE
                        FIRST SESSION, 1997
  
  
                                                    March 3, 1997
  
  
  Mr. Speaker:
  
       Your TAXATION AND REVENUE COMMITTEE, to whom has
  been referred
  
                        HOUSE BILL 751
                               
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 1, line 11, strike "A SECTION" and insert in lieu
  thereof "AND ENACTING SECTIONS".
  
       2.  On page 1, line 12, after "ACT" insert "AND THE INDUSTRIAL
  REVENUE BOND ACT".
  
       3.  On page 1, line 13, strike "APROVAL" and insert in lieu
  thereof "APPROVAL".
  
       4.  On page 1, line 13, after "PROJECTS" insert "AND PROVIDE
  NOTICE BETWEEN COUNTIES AND MUNICIPALITIES FOR CERTAIN PROJECTS;
  PROVIDING FOR DEVELOPMENT OF JOINT CRITERIA FOR ISSUANCE OF 
  INDUSTRIAL REVENUE BONDS". 
  
       5.  On page 1, between lines 15 and 16, insert the following
  new sections:
  
       "Section 1.  Section 3-32-2 NMSA 1978 (being Laws 1967,
  Chapter 84, Section 1) is amended to read:
       "3-32-2.  SHORT TITLE.--[Sections 14-31-1 through 14-31-13 New
  Mexico Statutes Annotated, 1953 Compilation] Chapter 3, Article 32
  NMSA 1978 may be cited as the "Industrial Revenue Bond Act"."
  
  
       Section 2.  A new section of the Industrial Revenue Bond Act
  is enacted to read:
  
       "[NEW MATERIAL] MUNICIPALITY OVER TWO HUNDRED THOUSAND--NOTICE
  TO COUNTY.--
            
            A.  Prior to adopting an ordinance issuing industrial
  revenue bonds in a municipality with a population in excess of two
  
  hundred thousand, the municipality shall give notice to the county
  of its intent to consider the matter.  The county shall be notified
  at least thirty days prior to the meeting at which final action is
  to be taken so that comments can be transmitted by the county to the
  municipality.
  
            B.  The county shall be able to forward its comments and
  any concerns to the city council, but there is no approval required
  from the county, and the county does not have veto over the proposed
  industrial revenue bond issuance.
  
            C.  The municipality and county shall jointly develop
  criteria for issuance of industrial revenue bonds by either
  government; provided, however, that industrial revenue bonds may be
  authorized and issued before development of the criteria is
  completed."
  
       Section 3.  Section 4-59-1 NMSA 1978 (being Laws 1975, Chapter
  286, Section 1) is amended to read:
  
       "4-59-1.  SHORT TITLE.--[This act] Chapter 4, Article 59 NMSA
  1978 may be cited as the "County Industrial Revenue Bond Act"."
  
       Section 4.  A new section of the County Industrial Revenue
  Bond Act is enacted to read:
  
       "[NEW MATERIAL] CLASS A COUNTY--NOTICE TO MUNICIPALITY OVER
  TWO HUNDRED THOUSAND.--
            
            A.  Prior to adopting an ordinance issuing county
  industrial revenue bonds, a class A county shall give notice to a
  municipality with a population in excess of two hundred thousand
  located within  the county of its intent to consider the matter. 
  The municipality shall be notified at least thirty days prior to the
  meeting at which final action is to be taken so that comments can be
  transmitted by the municipality to the county.
  
            B.  The municipality shall be able to forward its
  comments and any concerns to the board of county commissioners, but
  there is no approval required from the municipality and the
  municipality does not have veto over the proposed county industrial
  revenue bond issuance.
  
            C.  The county and the municipality shall jointly develop
  criteria for issuance of industrial revenue bonds by either
  government; provided, however, that county industrial revenue bonds
  may be authorized and issued before development of the criteria is
  completed."".
  
  
  
  
       6.  Renumber the succeeding section accordingly.
  
                                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:  Lujan
            Absent:   None
  
  
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