State of New Mexico
                    House of Representatives
  
                    FORTY-SECOND LEGISLATURE
                      SECOND SESSION, 1996
  
  
                                               February 7, 1996
  
  
  Mr. Speaker:
  
     Your TAXATION AND REVENUE COMMITTEE, to whom has
  been referred
  
                         HOUSE BILL 57
                                 
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
     1.  On page 3, line 14, after "Receipts" insert "of not more
  than eighty thousand dollars ($80,000)".
  
     2.  On page 3, line 17, after "(c)" strike the remainder of the
  line and strike all of lines 18 through 24 and insert in lieu thereof
  "(4) or 501(c)(10) of the United States Internal Revenue Code of
  1986, as amended;".,
  
  and thence referred to the APPROPRIATIONS AND FINANCE 
  COMMITTEE.
  
                              Respectfully submitted,
  
  
  
                                                               
                              Jerry W. Sandel, Chairman
  
  
  Adopted                          Not Adopted                       
          (Chief Clerk)                       (Chief Clerk)
  
                       Date             
  
  The roll call vote was 9  For 0  Against
  Yes:         9
  Excused:     Gallegos, Gonzales, Hawkins, Lujan
  Absent: None
  
  
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