February 11, 2002

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BUSINESS AND INDUSTRY COMMITTEE

SUBSTITUTE FOR HOUSE BILL 388

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 1, strike line 22 in its entirety.

2. On page 3, line 2, strike "three thousand" and insert in lieu thereof "two thousand five hundred".

3. On page 3, line 2, after "surface" insert "or refining crude oil or processing natural gas".

4. On page 3, line 15, after "return" strike the remainder of the line.

5. On page 3, line 16, strike "producing oil or gas".

6. On page 4, line 16, strike "three thousand" and insert in lieu thereof "two thousand five hundred".

7. On page 4, line 16, after "surface" insert "or refining crude oil or processing natural gas".

Respectfully submitted,

Donald L. Whitaker, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 9 For 0 Against

Yes: 9

Excused: Lujan, Russell, Gonzales

Absent: Boykin, Hanosh, Sandoval, Silva

.141523.1

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