SENATE BILL 630

44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

INTRODUCED BY

John Arthur Smith

AN ACT

RELATING TO TAXATION; EXEMPTING RECEIPTS OF NURSING HOMES, INTERMEDIATE CARE FACILITIES AND ADULT DAYCARE FACILITIES FROM THE GROSS RECEIPTS TAX.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

"[NEW MATERIAL] EXEMPTION--GROSS RECEIPTS TAX--NURSING HOME RECEIPTS.--Exempted from the gross receipts tax are the receipts of nursing homes, intermediate care facilities and adult daycare facilities licensed by the department of health."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 1999.

.127736.1