0001|                      SENATE JOINT RESOLUTION 3
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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|                          JOSEPH. J. CARRARO
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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|                          A JOINT RESOLUTION
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0011|     PROPOSING TO AMEND ARTICLE 8 OF THE CONSTITUTION OF NEW MEXICO
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0012|     BY ADDING A NEW SECTION TO PROHIBIT INCREASES IN THE VALUE OF
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0013|     PROPERTY FOR PROPERTY TAXATION PURPOSES OF THE PRINCIPAL PLACE
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0014|     OF RESIDENCE OF A PERSON SIXTY-FIVE YEARS OF AGE OR OLDER. 
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0015|     
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0016|     BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  It is proposed to amend Article 8 of the
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0018|     constitution of New Mexico by adding a new section to read:
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0019|          "The legislature shall provide by law for prohibiting
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0020|     increases in the valuation of residential property owned by a
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0021|     person sixty-five years of age or older who occupies the
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0022|     property as his principal place of residence.  The valuation
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0023|     for property taxation purposes for any property tax year of
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0024|     property that qualifies for this valuation cap shall not exceed
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0025|     its valuation for property tax purposes for the 1998 property
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0001|     tax year or the property tax year in which the taxpayer first
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0002|     qualifies for the valuation cap, whichever is later.  The
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0003|     valuation cap shall apply until the property tax year following
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0004|     the year in which the property is no longer the taxpayer's
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0005|     principal place of residence or the taxpayer no longer owns the
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0006|     property."
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0007|          Section 2.  The amendment proposed by this resolution
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0008|     shall be submitted to the people for their approval or
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0009|     rejection at the next general election or at any special
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0010|     election prior to that date which may be called for that
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0011|     purpose.
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0012|                                    
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0013|   
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0014|                      FORTY-THIRD LEGISLATURE
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0015|                        FIRST SESSION, 1997
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0016|   
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0017|   
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0018|                                               February 13, 1997
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0019|   
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0020|   Mr. President:
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0021|   
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0022|       Your RULES COMMITTEE, to whom has been referred
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0023|   
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0024|                     SENATE JOINT RESOLUTION 3
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0025|   
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0001|   has had it under consideration and reports same with
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0002|   recommendation that it DO PASS, and thence referred to the
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0003|   WAYS AND MEANS COMMITTEE.
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0004|   
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0005|                                Respectfully submitted,
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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|   __________________________________
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0011|                                Gloria Howes, Chairman 
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0012|   
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0013|   
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0014|   
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0015|   Adopted_______________________   Not
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0016|   Adopted_______________________
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0017|             (Chief Clerk)                          (Chief Clerk)
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0018|   
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0019|   
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0020|                     Date ________________________
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0021|   
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0022|   
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0023|   The roll call vote was <u> 4 </u> For <u> 2 </u> Against
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0024|           Yes:    4
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0025|           No:     Adair, Stockard
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0001|                Excused:     Aragon, Campos
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0002|           Absent: None
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0003|   
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0004|   
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0005|   SJR03RU1
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0006|   
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0007|                          State of New Mexico
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0008|                      House of Representatives
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0009|   
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0010|                      FORTY-THIRD LEGISLATURE
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0011|                        FIRST SESSION, 1997
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0012|   
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0013|   
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0014|                                                  March 20, 1997
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0015|   
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0016|   
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0017|   Mr. Speaker:
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0018|   
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0019|       Your VOTERS AND ELECTIONS COMMITTEE, to whom has
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0020|   been referred
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0021|   
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0022|            SENATE JOINT RESOLUTION 3, as amended
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0023|                               
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0024|   has had it under consideration and reports same with
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0025|   recommendation that it DO PASS, and thence referred to the
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0001|   TAXATION AND REVENUE COMMITTEE.
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0002|   
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0003|                            Respectfully submitted,
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0004|   
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0005|   
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0006|   
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0007|                            <u>                                 
</u>    |
<u></u>0008| <u>                           </u>                        Edward C. Sandoval, Chairman
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0009|   
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0010|   
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0011|   Adopted <u>                    </u>   Not Adopted <u>                     
</u>    |
<u></u>0012| <u>  </u>
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0013|           (Chief Clerk)                      (Chief Clerk)
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0014|   
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0015|                        Date <u>            </u>
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0016|   
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0017|   The roll call vote was<u> 7 </u> For<u> 0 </u> Against
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0018|   Yes:         7
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0019|                Excused:     Buffett, Lujan, Madalena, Nicely, Sanchez
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0020|           Absent: None
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0021|   
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0022|   
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0023|   G:\BILLTEXT\BILLW_97\SJR03
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