New Mexico 2018 Regular Session Status: In Committee

SB 68 — TAX CODE CLEANUP & REPORTING

Last action — action postponed indefinitely

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill allows certain tax return information to be disclosed for economic analysis and modifies various reporting requirements in New Mexico tax law.

  • Section 7-1-8.8

    N. the secretary of human services or the secretary's delegate; provided that a person who receives the confidential return information on behalf of the human services department shall not reveal the information and shall be subject to the penalties in Section 7-1-76 NMSA 1978 if the person fails to maintain the confidentiality required:

    The role of the human services secretary in the information sharing provision has been removed.

  • Section 7-1-8.8

    O. an economist of the department of finance and administration and an economist of the legislative finance committee, upon written request of the economist, return information for the purpose of tracking, forecasting and analyzing tax revenue, including return information related to deductions and tax credits provided by law; provided that an economist who receives the return information shall not reveal the information to an unauthorized person and shall be subject to the penalties in Section 7-1-76 NMSA 1978 if the economist fails to maintain the confidentiality required.

    New provisions have been added allowing economists to access tax return information for revenue analysis while ensuring confidentiality.

  • Section 7-2E-1.1

    F. To receive a rural job tax credit with respect to any qualifying period, an eligible employer [must ] shall apply to the taxation and revenue department on forms and in the manner the department may prescribe. → F. To receive a rural job tax credit with respect to any qualifying period, an eligible employer shall apply to the taxation and revenue department on forms and in the manner the department may prescribe.

    The language has been standardized for clarity by changing 'must' to 'shall'.

  • Section 7-2E-1.1

    K. The [secretary of] economic development department, the [secretary of] taxation and revenue department and the [secretary of ] workforce solutions [or their designees] department shall annually evaluate the effectiveness of the rural job tax credit in stimulating economic development in the rural areas of New Mexico and make a joint report of their findings to each session of the legislature so long as the rural job tax credit is in effect. Those → K. The economic development department, the taxation and revenue department and the workforce solutions department shall annually evaluate the effectiveness of the rural job tax credit in stimulating economic development in the rural areas of New Mexico and make a joint report of their findings to each session of the legislature so long as the rural job tax credit is in effect.

    The removal of brackets and 'secretary of' clarifies the roles of the departments involved in the evaluation.

Action History

  1. action postponed indefinitely

  2. Sent to Senate Committees' Committee & Senate Corporations and Transportation Committee & Senate Finance Committee

  3. Sent to Senate Pre-file

Sponsors

  • Carlos R. Cisneros · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (1)

  • Cisneros, Carlos R.

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

Show all 111 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 68?
SB 68 is sponsored by Cisneros, Carlos R..
What is the current status of SB 68?
This bill died with 2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 68?
Track SB 68 free on One Click Politics — get push/email alerts when it moves.

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