0001|                           HOUSE BILL 1391
    |
0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
    |
0003|                            INTRODUCED BY
    |
0004|                           JERRY W. SANDEL
    |
0005|     
    |
0006|                                   
    |
0007|     
    |
0008|                                   
    |
0009|     
    |
0010|                                AN ACT
    |
0011|     RELATING TO TAXATION; CHANGING THE RATE OF TAX IMPOSED BY THE
    |
0012|     RAILROAD CAR COMPANY TAX ACT; DECLARING AN EMERGENCY.
    |
0013|     
    |
0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0015|          Section 1.  Section 7-11-3 NMSA 1978 (being Laws 1982,
    |
0016|     Chapter 18, Section 19, as amended) is amended to read:
    |
0017|          "7-11-3.  IMPOSITION OF TAX--TAX RATE--TAX IN LIEU OF
    |
0018|     PROPERTY TAXES.--
    |
0019|               A.  There is imposed on the gross earnings of each
    |
0020|     organization for the <s>[1987]</s> <u>1996</u> and subsequent calendar
    |
0021|     years a tax of <s>[three]</s> <u>one</u> and one-half percent.
    |
0022|               B.  The tax imposed in Subsection A of this section
    |
0023|     is in lieu of all property taxes on railway cars owned by an
    |
0024|     organization."
    |
0025|          Section 2.  EMERGENCY.--It is necessary for the public
    |
0001|     peace, health and safety that this act take effect immediately.
    |
0002|                                                         State of New Mexico
    |
0003|                      House of Representatives
    |
0004|   
    |
0005|                      FORTY-THIRD LEGISLATURE
    |
0006|                        FIRST SESSION, 1997
    |
0007|   
    |
0008|   
    |
0009|                                                  March 10, 1997
    |
0010|   
    |
0011|   
    |
0012|   Mr. Speaker:
    |
0013|   
    |
0014|        Your TAXATION AND REVENUE COMMITTEE, to whom has
    |
0015|   been referred
    |
0016|   
    |
0017|                       HOUSE BILL 1391
    |
0018|                               
    |
0019|   has had it under consideration and reports same with
    |
0020|   recommendation that it DO PASS.
    |
0021|   
    |
0022|                                 Respectfully submitted,
    |
0023|   
    |
0024|   
    |
0025|   
    |
0001|                                 <u>                                
</u>    |
<u></u>0002| <u>  
</u>    |
<u></u>0003| <u>                                </u>                             Jerry W. Sandel, Chairman
    |
0004|   
    |
0005|   
    |
0006|   Adopted <u>                    </u>     Not Adopted <u>                    
</u>    |
<u></u>0007| <u>   </u>
    |
0008|             (Chief Clerk)                       (Chief Clerk)
    |
0009|   
    |
0010|                        Date <u>            </u>
    |
0011|   
    |
0012|   The roll call vote was<u> 12 </u> For<u> 0 </u> Against
    |
0013|   Yes:      12
    |
0014|             Excused:  Porter
    |
0015|             Absent:   None
    |
0016|   
    |
0017|   
    |
0018|   G:\BILLTEXT\BILLW_97\H1391  
    |
0019|   
    |
0020|                      FORTY-THIRD LEGISLATURE
    |
0021|                        FIRST SESSION, 1997
    |
0022|   
    |
0023|   
    |
0024|                                                  March 17, 1997
    |
0025|   
    |
0001|   Mr. President:
    |
0002|   
    |
0003|       Your WAYS AND MEANS COMMITTEE, to whom has been
    |
0004|   referred
    |
0005|   
    |
0006|                          HOUSE BILL 1391
    |
0007|   
    |
0008|   has had it under consideration and reports same with
    |
0009|   recommendation that it DO PASS.
    |
0010|   
    |
0011|                                Respectfully submitted,
    |
0012|   
    |
0013|   
    |
0014|   
    |
0015|                                
    |
0016|   __________________________________
    |
0017|                                Carlos R. Cisneros, Chairman 
    |
0018|   
    |
0019|   
    |
0020|   
    |
0021|   Adopted_______________________   Not
    |
0022|   Adopted_______________________
    |
0023|             (Chief Clerk)                          (Chief Clerk)
    |
0024|   
    |
0025|   
    |
0001|   
    |
0002|                     Date ________________________
    |
0003|   
    |
0004|   
    |
0005|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
    |
0006|           Yes:    7
    |
0007|           No:     0
    |
0008|                Excused:     McSorley, Nava
    |
0009|           Absent: None
    |
0010|   
    |
0011|   
    |
0012|   H1391WM1
    |