Bill > SB271

This bill proposes to amend Section 7-9-3.2 of the New Mexico Statutes Annotated (NMSA) 1978, which deals with definitions related to the Gross Receipts and Compensating Tax Act. The key change is to the definition of "governmental gross receipts," which refers to money received by the state or its political subdivisions. Specifically, the bill aims to clarify that receipts from the performance of or admissions to recreational, athletic, or entertainment services or events held in New Mexico, and open to the general public, are considered governmental gross receipts. This amendment is intended to provide a clearer definition for taxing purposes concerning events organized or hosted by government entities.