0001|     
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0002|                            HOUSE BILL 101
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0003|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0004|                            INTRODUCED BY
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0005|                           JERRY W. SANDEL
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0006|     
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0007|                                   
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0008|     
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0009|        FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE
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0010|     
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0011|                                AN ACT
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0012|     RELATING TO TAXATION; AMENDING SECTION 60-2E-47 NMSA 1978
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0013|     (BEING LAWS 1997, CHAPTER 190, SECTION 49) TO SPECIFY A TAX
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0014|     DUE DATE AND DEFINE A TERM; DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  Section 60-2E-47 NMSA 1978 (being Laws 1997,
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0018|     Chapter 190, Section 49) is amended to read:
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0019|          "60-2E-47.  GAMING TAX--IMPOSITION--ADMINISTRATION.--
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0020|               A.  An excise tax is imposed on the privilege of
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0021|     engaging in gaming activities in the state.  This tax shall be
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0022|     known as the "gaming tax".
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0023|               B.  The gaming tax is an amount equal to ten
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0024|     percent of the gross receipts of manufacturer licensees from
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0025|     the sale, lease or other transfer of gaming devices in or into
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<center>- 1 -</center>

0001|     the state, except receipts of a manufacturer from the sale,
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0002|     lease or other transfer to a licensed distributor for
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0003|     subsequent sale or lease may be excluded from gross receipts;
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0004|     ten percent of the gross receipts of distributor licensees
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0005|     from the sale, lease or other transfer of gaming devices in or
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0006|     into the state; and twenty-five percent of the net take of
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0007|     every gaming operator licensee.  <u>For the purposes of this
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<u></u>0008| <u>    section, "gross receipts" means the total amount of money or
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<u></u>0009| <u>    the value of other consideration received from selling,
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<u></u>0010| <u>    leasing or otherwise transferring gaming devices.</u> 
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0011|               C.  The gaming tax imposed on a licensee is in lieu
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0012|     of all state and local gross receipts taxes on that portion of
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0013|     the licensee's gross receipts attributable to gaming
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0014|     activities.
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0015|               D.  <u>The gaming tax is to be paid on or before the
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<u></u>0016| <u>    fifteenth day of the month following the month in which the
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<u></u>0017| <u>    taxable event occurs.</u>  The gaming tax shall be administered
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0018|     and collected by the taxation and revenue department in
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0019|     cooperation with the board.  The provisions of the Tax
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0020|     Administration Act apply to the collection and administration
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0021|     of the tax.
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0022|               E.  In addition to the gaming tax, a gaming
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0023|     operator licensee that is a racetrack shall pay twenty percent
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0024|     of <s>[the]</s> <u>its</u> net take to purses to be distributed in
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0025|     accordance with regulations adopted by the state racing
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<center>- 2 -</center>

0001|     commission.  A racetrack gaming operator licensee shall spend
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0002|     no less than one-fourth of one percent of the net take of its
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0003|     gaming machines to fund or support programs for the treatment
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0004|     and assistance of compulsive gamblers. 
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0005|               F.  A nonprofit gaming operator licensee shall
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0006|     distribute at least eighty-eight percent of the balance of
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0007|     <u>its</u> net take, after payment of the gaming tax and any income
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0008|     taxes, for charitable or educational purposes."
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0009|          Section 2.  EMERGENCY.--It is necessary for the public
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0010|     peace, health and safety that this act take effect
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0011|     immediately.
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0012|                              
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