HOUSE BILL 70

50th legislature - STATE OF NEW MEXICO - second session, 2012

INTRODUCED BY

Jim R. Trujillo

AN ACT

RELATING TO TAXATION; AMENDING A SECTION OF THE GROSS RECEIPTS AND COMPENSATING TAX ACT TO PROVIDE FOR A DEDUCTION FROM GROSS RECEIPTS FOR SALES OF URANIUM HEXAFLUORIDE.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 7-9-90 NMSA 1978 (being Laws 1999, Chapter 231, Section 3) is amended to read:

     "7-9-90. DEDUCTIONS--GROSS RECEIPTS TAX--SALES OF [ENRICHED] URANIUM HEXAFLUORIDE AND ENRICHMENT OF URANIUM.--Receipts from selling [enriched] uranium hexafluoride and from providing the service of enriching uranium may be deducted from gross receipts."

.188173.1