summary
Introduced
01/29/2017
01/29/2017
In Committee
01/29/2017
01/29/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING FOR A DEDUCTION FROM GROSS RECEIPTS OF CERTAIN INFRASTRUCTURE CONSTRUCTION SERVICES PERFORMED ON MILITARY BASES.
AI Summary
This bill provides a deduction from the gross receipts tax for construction services performed on military bases in New Mexico to support a training mission involving F-16 tactical fighter jets. The purpose of the deduction is to make the state more competitive in retaining this military training mission and to improve economic development by generating more revenue from out-of-state sources. The deduction is in effect from July 1, 2017 through June 30, 2022, and the Department of Taxation is required to compile annual reports on the effectiveness and cost of the deduction.
Committee Categories
Transportation and Infrastructure
Sponsors (1)
Last Action
[LD 13] Referred to Senate Corporations & Transportation (on 01/29/2017)
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=S&legtype=B&legno=485&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/senate/SB0485.pdf |
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