FORTY-THIRD LEGISLATURE
                          FIRST SESSION
  
  
                                                   March 16, 1997
  
  
  SENATE FLOOR AMENDMENT number _______ to SENATE FINANCE COMMITTEE
                                       SUBSTITUTE FOR
                                       SENATE BILL 1054
  
  Amendment sponsored by Senator Manny M. Aragon 
  
  
      1.  On page 1, line 13, after the semicolon strike the
  remainder of the line, strike all of line 14 and on line 15, strike
  "TAXES PAID" and insert in lieu thereof "INCREASING THE RATE OF THE
  CIGARETTE TAX AND DISTRIBUTING THE ADDITIONAL REVENUES".
  
      2.  On page 2, strike Section 2 in its entirety.
  
      3.  Renumber the succeeding sections accordingly.
  
      4.  On page 6, between lines 11 and 12, insert the following
  new section:
  
      "Section 4.  Section 7-1-6.11 NMSA 1978 (being Laws 1983,
  Chapter 211, Section 16, as amended) is amended to read:
  
      "7-1-6.11.  DISTRIBUTIONS OF CIGARETTE TAXES.--
  
          A.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the county and municipality recreational fund in an
  amount equal to [four and three-quarters] three and twenty-three
  hundredths percent of the net receipts, exclusive of penalties and
  interest, attributable to the cigarette tax.
  
          B.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the county and municipal cigarette tax fund in an
  amount equal to [nine and one-half] six and forty-five hundredths
  percent of the net receipts, exclusive of penalties and interest,
  attributable to the cigarette tax.
  
          C.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the cancer center at the university of New Mexico
  school of medicine in an amount equal to [four and three-quarters]
  twelve and nine-tenths percent of the net receipts, exclusive of
  penalties and interest, attributable to the cigarette tax.
  
          D.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the New Mexico finance authority in an amount equal
  to [seven and one-eighth] four and eighty-three hundredths percent
  of the net receipts, exclusive of penalties and interest,
  attributable to the cigarette tax.
  
          E.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the board of regents of the university of New
  Mexico in an amount equal to three and twenty-three hundredths
  percent of the net receipts, exclusive of penalties and interest,
  attributable to the cigarette tax for the purpose of establishing a
  special chair for genetics research.
  
          F.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the state fair commission in an amount equal to
  three and twenty-three hundredths percent of the net receipts,
  exclusive of penalties and interest, attributable to the cigarette
  tax for the purpose of conducting the New Mexico state fair.
  
          G.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the office of cultural affairs in an amount equal
  to twelve and nine-tenths percent of the net receipts, exclusive of
  penalties and interest, attributable to the cigarette tax to be
  distributed as follows for the following purposes:
  
               (1)  three-fourths of the distribution to the board of
  directors of the New Mexico Hispanic cultural center for any
  necessary design, construction or equipping of the Hispanic cultural
  center and thereafter for the operation of the Hispanic cultural
  center;
               (2)  one-eighth of the distribution to the New Mexico
  farm and ranch heritage museum division for operation of the New
  Mexico farm and ranch heritage museum; and
  
               (3)  one-eighth of the distribution to the board of
  trustees of the New Mexico museum of natural history and science for
  operation of that museum.
  
          G.  A distribution pursuant to Section 7-1-6.1 NMSA 1978
  shall be made to the brain injury services fund in an amount equal
  to three and twenty-three hundredths percent of the net receipts,
  exclusive of penalties and interest, attributable to the cigarette
  tax, contingent upon enactment into law of Senate Bill 37 or other
  bill of the first session of the forty-third legislature creating
  the fund."".
  
      5.  Renumber the succeeding sections accordingly.
  
      6.  On pages 9 and 10, strike Section 7 in its entirety and
  insert in lieu thereof:
  
      "Section 7.  Section 7-12-3 NMSA 1978 (being Laws 1971, Chapter
  77, Section 3, as amended) is amended to read:
  
      "7-12-3.  EXCISE TAX ON CIGARETTES--RATES.--
  
          A.  For the privilege of selling, giving or consuming
  cigarettes in New Mexico, there is levied an excise tax at the rate
  of [one and five hundredths cents ($.0105)] one and fifty-five
  hundredths cents ($.0155) for each cigarette sold, given or consumed
  in this state.
  
          B.  The tax imposed by this section shall be referred to as
  the "cigarette tax"."".
  
      7.  On page 12, line 1, strike "4" and insert in lieu thereof
  "3".
  
      8.  On page 12, line 3, strike "Section" and insert in lieu
  thereof "Sections 4 and".
  
  
  
  
  
  
  
                                      __________________________
                                      Manny M. Aragon
  
  
  
  Adopted ___________________   Not Adopted _______________________
           (Chief Clerk)                    (Chief Clerk)
  
  
                   Date _________________