0001|            SENATE WAYS AND MEANS COMMITTEE SUBSTITUTE FOR
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0002|                            SENATE BILL 62
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0003|     43rd legislature - STATE OF NEW MEXICO - second session, 1998
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0004|                                   
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0005|     
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0006|     
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0007|                                   
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0008|     
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0009|                                   
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0010|     
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0011|                                AN ACT
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0012|     RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX DEDUCTION
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0013|     FOR RECEIPTS FROM THE PROVISION OF CERTAIN MEDICAL AND HEALTH
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0014|     SERVICES.
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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.  A new Section 7-9-77.1 NMSA 1978 is enacted
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0018|     to read:
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0019|          "7-9-77.1.  [NEW MATERIAL] DEDUCTION--GROSS RECEIPTS
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0020|     TAX--CERTAIN MEDICAL AND HEALTH CARE SERVICES.--
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0021|               A.  Thirty-three and one-third percent of receipts,
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0022|     on or after July 1, 1998 and before July 1, 1999, from
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0023|     payments by the United States government or any agency thereof
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0024|     for provision of medical and other health services by medical
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0025|     doctors and osteopaths to medicare beneficiaries pursuant to
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<center>- 1 -</center>0001|     the provisions of Title VIII of the federal Social Security
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0002|     Act may be deducted from gross receipts.
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0003|               B.  Sixty-six and two-thirds percent of receipts,
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0004|     on or after July 1, 1999 and before July 1, 2000, from
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0005|     payments by the United States government or any agency thereof
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0006|     for provision of medical and other health services by medical
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0007|     doctors and osteopaths to medicare beneficiaries pursuant to
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0008|     the provisions of Title VIII of the federal Social Security
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0009|     Act may be deducted from gross receipts.
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0010|               C.  Receipts, on or after July 1, 2000, from
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0011|     payments by the United States government or any agency thereof
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0012|     for provision of medical and other health services by medical
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0013|     doctors and osteopaths to medicare beneficiaries pursuant to
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0014|     the provisions of Title VIII of the federal Social Security
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0015|     Act may be deducted from gross receipts."
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0016|          Section 2.  EFFECTIVE DATE.--The effective date of the
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0017|     provisions of this act is July 1, 1998.
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0018|                              
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