Bill > HB2

Introduced Session

AN ACT RELATING TO TAXATION; DISTRIBUTING REVENUE IN EXCESS OF A FIVE-YEAR AVERAGE OF THE OIL AND GAS EMERGENCY SCHOOL TAX TO THE TAX STABILIZATION RESERVE; ELIMINATING THE TAXPAYERS DIVIDEND FUND; SUSPENDING A DISTRIBUTION TO THE LEGISLATIVE RETIREMENT FUND FOR TWO YEARS, THEN SENDING THE DISTRIBUTION TO THE MAGISTRATE RETIREMENT FUND AND THE JUDICIAL RETIREMENT FUND FOR THREE YEARS, THEN RESUMING THE DISTRIBUTION TO THE LEGISLATIVE RETIREMENT FUND; DISTRIBUTING A PORTION OF THE GROSS RECEIPTS TAX TO THE COUNTY-SUPPORTED MEDICAID FUND; PROVIDING THAT THE PLACE OF BUSINESS OF A PERSON WITHOUT PHYSICAL PRESENCE IN THIS STATE IS WHERE THE PROPERTY OR SERVICE BEING SOLD IS DELIVERED; ALLOWING A REFUND OF GROSS RECEIPTS TAX DUE A PERSON TO BE APPLIED AGAINST COMPENSATING TAX OWED BY THE PERSON'S CUSTOMER AS A RESULT OF TRANSACTIONS WITH THAT PERSON; CLARIFYING THAT A PERSON WITHOUT PHYSICAL PRESENCE IN THE STATE THAT HAS LESS THAN ONE HUNDRED THOUSAND DOLLARS ($100,000) IN GROSS RECEIPTS IS NOT ENGAGING IN BUSINESS PURSUANT TO THE GROSS RECEIPTS AND COMPENSATING TAX ACT; BARRING THE TAXATION AND REVENUE DEPARTMENT FROM ENFORCING COLLECTION OF THE GROSS RECEIPTS TAX IN CERTAIN CIRCUMSTANCES; IMPOSING THE STATE GROSS RECEIPTS TAX ON NONPROFIT HOSPITALS; IMPOSING THE GOVERNMENTAL GROSS RECEIPTS TAX ON GOVERNMENT HOSPITALS; DISTRIBUTING THE REVENUE ATTRIBUTABLE TO TAXING ALL HOSPITALS TO THE GENERAL FUND; ADJUSTING CERTAIN DEDUCTIONS AND EXEMPTIONS FROM GROSS RECEIPTS AND GOVERNMENTAL GROSS RECEIPTS FOR HOSPITALS; REQUIRING SEPARATE REPORTING FOR CERTAIN DEDUCTIONS FROM GROSS RECEIPTS; AMENDING, REPEALING AND ENACTING SECTIONS OF THE NMSA 1978; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.

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Brian Egolf (D)*,  Carl Trujillo (D)*,  Jim Trujillo (D), 

[LD 4] Signed by the Governor - Chapter 3(partial veto). (on 05/27/2017)

Official Document