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Key Votes

HB 119 - Temporary Gross Receipts and Compensating Tax Increase - Key Vote

New Mexico Key Votes

Dianne Hamilton voted Nay (Passage) on this Legislation.

Read statements Dianne Hamilton made in this general time period.

Stages

Family

Issues

Note

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Stage Details

Legislation - Referred to Committee (Senate) -
Legislation - Bill Passed (House) (34-32) - (Key vote)

Title: Temporary Gross Receipts and Compensating Tax Increase

Vote Smart's Synopsis:

Vote to pass a bill that temporarily increases the gross receipts and compensating tax rate and requires a referendum for increasing municipal gross receipts tax rates beginning July 1, 2010.

Highlights:
-Increases the gross receipts and compensating tax rate as follows (Secs. 4-5):
    -Existing Law: 5 percent of gross receipts; -New Law:
      -5.5 percent of gross receipts for fiscal year 2010-2011; -5.375 percent of gross receipts for fiscal year 2011-2012; -5.25 percent of gross receipts for fiscal year 2012-2013; -5.125 percent of gross receipts for fiscal year 2013-2014; and -5 percent of gross receipts for fiscal year 2014-2015 and each subsequent fiscal year thereafter.
-Establishes a tax credit against the gross receipts tax for eligible Medicaid dental providers for performing pediatric dental services equal to the following rates (Sec. 6):
    -0.5 percent of taxable gross receipts for fiscal year 2010-2011 ; -0.375 percent of taxable gross receipts for fiscal year 2011-2012; -0.25 percent of taxable gross receipts for fiscal year 2012-2013; and -0.125 percent of taxable gross receipts for fiscal year 2013-2014.
-Requires a referendum for imposing a municipal gross receipts tax if specified in the ordinance or if a petition requesting an election is filed, and specifies that if the referendum fails, the ordinance is repealed and the tax increase cannot be considered for at least 1 year after the election (Sec. 7). -This is a substitute bill sponsored by the House Committee on Taxation and Revenue.
Legislation - Introduced (House) -

Title: Temporary Gross Receipts and Compensating Tax Increase

Sponsors

  • Ben R. Lujan Sr. (NM - D) (Out Of Office)
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