0001|                           SENATE BILL 1191
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                           RAMSAY L. GORHAM
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO TAXATION; AUTHORIZING AN EMPLOYER TAX CREDIT FOR
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0012|     EMPLOYEE RELEASED TIME FOR PUBLIC SCHOOL COMPUTER ASSISTANCE.
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|          Section 1.  A new section of the Corporate Income and
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0016|     Franchise Tax Act is enacted to read:
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0017|          "[<u>NEW MATERIAL</u>]  EMPLOYER CREDIT--EMPLOYEE RELEASED
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0018|     TIME.--
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0019|               A.  Any taxpayer who files a corporate income tax

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0020|     return may claim a credit for the time during regular working
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0021|     hours in which the taxpayer's employees are released from
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0022|     employment duties to provide computer assistance in a public
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0023|     elementary or secondary school.  The credit may be claimed in
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0024|     an amount equal to the sum of the amounts determined for each
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0025|     employee who provides such assistance, which amount for each
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0001|     employee is equal to the product of five dollars ($5.00)
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0002|     multiplied by the number of hours in the taxpayer's taxable
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0003|     year that the employee was released and provided such
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0004|     assistance.
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0005|               B.  A taxpayer who otherwise qualifies and claims a
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0006|     credit pursuant to Subsection A of this section and who is a
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0007|     member of a partnership or business association that is the
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0008|     employer may claim a credit only in proportion to his interest
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0009|     in the partnership or association.  The total credit claimed by
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0010|     all members of the partnership or association shall not exceed
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0011|     the credit that would otherwise be available to a single
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0012|     taxpayer.
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0013|          C.  The credit provided in this section may only be
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0014|     deducted from the taxpayer's corporate income tax liability for
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0015|     the taxable year in which the credit is claimed.
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0016|          D.  As used in this section, "computer assistance" means
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0017|     teaching of computer skills to students or teachers and
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0018|     provision of technical assistance, including maintenance,
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0019|     repair and upgrading of computer systems."
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0020|          Section 2.  APPLICABILITY.--The provisions of this act
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0021|     apply to taxable years beginning on or after January 1, 1997.
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0022|                                    
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0023|   
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0024|                      FORTY-THIRD LEGISLATURE
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0025|                        FIRST SESSION, 1997
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0001|   
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0002|   
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0003|                                                  March 17, 1997
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0004|   
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0005|   Mr. President:
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0006|   
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0007|       Your WAYS AND MEANS COMMITTEE, to whom has been
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0008|   referred
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0009|   
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0010|                          SENATE BILL 1191
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0011|   
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0012|   has had it under consideration and reports same with
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0013|   recommendation that it DO PASS, and thence referred to the
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0014|   FINANCE COMMITTEE.
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0015|   
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0016|                                Respectfully submitted,
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0017|   
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0018|   
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0019|   
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0020|                                
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0021|   __________________________________
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0022|                                Carlos R. Cisneros, Chairman 
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0023|   
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0024|   
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0025|   
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0001|   Adopted_______________________   Not
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0002|   Adopted_______________________
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0003|             (Chief Clerk)                          (Chief Clerk)
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0004|   
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0005|   
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0006|                     Date ________________________
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0007|   
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0008|   
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0009|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
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0010|           Yes:    7
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0011|           No:     0
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0012|                Excused:     McSorley, Nava
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0013|           Absent: None
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0014|   
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0015|   
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0016|   S1191WM1
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0017|   
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