March 4, 1999

Mr. President:

Your FINANCE COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 1, strike lines 21 through 24 and insert in lieu thereof:

"B. Receipts of the owner of a dealer store derived from commissions received for performing the service of selling from the owner's dealer store a principal's tangible personal property may be deducted from gross receipts.

C. As used in this section, "dealer store" means a merchandise facility open to the public that is owned and operated by a person who contracts with a principal to act as an agent for the sale from that facility of merchandise owned by the principal."".

Respectfully submitted,

__________________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 7 For 0 Against

Yes: 7

No: 0

Excused: Campos, Carraro, Griego, Ingle, Rodriguez, Tsosie

Absent: None

S0068FC2 .128228.1/a