0001| HOUSE BILL 161 | 0002| 43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998 | 0003| INTRODUCED BY | 0004| LUCIANO "LUCKY" VARELA | 0005| | 0006| | 0007| | 0008| FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE | 0009| | 0010| AN ACT | 0011| DIRECTING THE TAXATION AND REVENUE DEPARTMENT TO CONDUCT A | 0012| TEMPORARY TAX AMNESTY PROGRAM; MAKING AN APPROPRIATION. | 0013| | 0014| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0015| Section 1. TEMPORARY TAX AMNESTY PROGRAM-- | 0016| APPROPRIATION.-- | 0017| A. Two hundred thousand dollars ($200,000) is | 0018| appropriated from the general fund to the taxation and revenue | 0019| department for expenditure in fiscal year 1999 for the purpose | 0020| of conducting a tax amnesty program as provided in Subsection | 0021| B of this section. Any unexpended or unencumbered balance | 0022| remaining at the end of fiscal year 1999 shall revert to the | 0023| general fund. | 0024| B. For the taxes and tax acts administered under | 0025| the Tax Administration Act, the secretary of taxation and | - 1 - 0001| revenue, with the concurrence of the governor, is authorized | 0002| to declare an amnesty period of no more than ninety days, | 0003| provided that any amnesty period occur within fiscal year | 0004| 1999. All revenue collected as a result of the tax amnesty | 0005| shall be identified specifically and reported to the first | 0006| session of the forty-fourth legislature. | 0007| C. The secretary of taxation and revenue is | 0008| authorized to waive, during the amnesty period only, the | 0009| interest and penalty provisions under Sections 7-1-67 and | 0010| 7-1-69 NMSA 1978 on taxes that were: | 0011| (1) due and not assessed prior to the day the | 0012| amnesty period begins; and | 0013| (2) due, assessed and not paid on the day the | 0014| amnesty period begins, but that were paid by the taxpayer or | 0015| that the taxpayer agreed to pay pursuant to an installment | 0016| payment agreement entered into with the taxation and revenue | 0017| department on or before the last day of the amnesty period. | 0018| D. After deposit into the general fund of an | 0019| amount of money equal to the general fund appropriation made | 0020| to the department to carry out the tax amnesty program, | 0021| revenue from taxes paid during the amnesty period attributable | 0022| to the provisions of this section shall be disposed of as | 0023| provided by law for that particular tax revenue. | 0024| Section 2. DELAYED REPEAL.--The provisions of this act | 0025| are repealed effective July 1, 1999. | - 2 -