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SPONSOR: | Wilson | DATE TYPED: | 02/11/00 | HB | |||
SHORT TITLE: | Comprehensive Review State Tax Policy; Pro Business Tax Climate | SB | SJM 59 | ||||
ANALYST: | Williams |
Recurring
or Non-Rec |
Fund
Affected | ||||
FY00 | FY01 | FY00 | FY01 | ||
None |
(Parenthesis ( ) Indicate Expenditure Decreases)
Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
FY00 | FY01 | |||
None |
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to SJM 35, HJM 30, HJM 16, SJM 25, SJM 15
SOURCES OF INFORMATION
Taxation and Revenue Department (TRD)
Economic Development Department
SUMMARY
Synopsis of Bill
The bill discusses changing commerce, the Internet and concerns about the gross receipts tax. The bill points out that all state and local tax systems are undergoing stress as business patters and practices outrun the scope of current taxation instruments. The bill directs the Revenue Stabilization and Tax Policy Committee to develop a state tax policy supporting and promoting economic development and to propose changes to stimulate the economy, encourage businesses to expand and relocate in New Mexico. The report and recommendations to the legislature are due by December 15, 2000.
FISCAL IMPLICATIONS
None
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