summary
Introduced
01/25/2022
01/25/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING A TEMPORARY DISTRIBUTION OF THE TAXES IMPOSED PURSUANT TO THE RESOURCES EXCISE TAX ACT ON COPPER TO COUNTIES WHERE THE COPPER IS SEVERED.
AI Summary
This bill provides a temporary distribution of the taxes imposed under the Resources Excise Tax Act on copper to the counties where the copper is severed. Specifically, the bill amends the Tax Administration Act to require that prior to July 1, 2024, 15% of the net receipts from the Resources Excise Tax Act taxes on the value of copper severed in a county be distributed to that county. The effective date of this change is July 1, 2022.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (6)
Phelps Anderson (I)*,
Siah Hemphill (D)*,
Luis Terrazas (R)*,
Crystal Diamond Brantley (R),
Rebecca Dow (R),
Candie Sweetser (D),
Last Action
House Taxation & Revenue Committee (08:30 2/7/2022 Room 317) (on 02/07/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=146&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0146.pdf |
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