March 20, 2003
Madam President:
Your FINANCE COMMITTEE, to whom has been referred
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. Strike House Taxation and Revenue Committee Amendments 2 and 4.
2. On page 3, between lines 22 and 23, insert the following new paragraph to read:
"(4) imposed all county gross receipts tax increments authorized pursuant to Section 7-20E-9 NMSA 1978 and has those increments in effect on July 1 of the year in which a distribution is made, provided that the county's valuation for property taxation purposes exceeds two hundred million dollars ($200,000,000); and".
3. On page 7, strike lines 15 through 24 in their entirety and insert in lieu thereof:
"If the county's total valuation for the preceding property tax year is:
| at least: | but less
than: |
and the county
population is: |
then the distribution amount is: |
| $ 0 | $100,000,000 | under 4,000 | $250,000 |
| $ 0 | $100,000,000 | over 4,000 | $225,000 |
| $ 100,000,000 | $210,000,000 | under 12,000 | $150,000 |
| $ 100,000,000 | $210,000,000 | over 12,000 | $100,000 |
| $ 210,000,000 | $1,400,000,000 | under 48,000 | $ 45,000.". |
Respectfully submitted,
_______________________________
Ben D. Altamirano, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 6 For 0 Against
Yes: 6
No: 0
Excused: Campos, Carraro, Fidel, Leavell
Absent: None
H0229FC1 .147469.1