March 15, 1999

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

SENATE BILL 557

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

1. On page 2, strike lines 21 through 25 and insert in lieu thereof:

"(10) any distribution to a municipality, county, school district or special district of oil and gas ad valorem production tax reduced as a result of a refund requested in December 1998 with respect to production of carbon dioxide.".

Respectfully submitted,

Jerry W. Sandel, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 13 For 0 Against

Yes: 13

Excused: Lujan, Russell

Absent: None

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