New Mexico 2019 Regular Session Status: Enacted 1 R cosponsors

SB 549 — CHEMICAL & REAGENT GROSS RECEIPTS

Last action — Signed

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

This bill has been enacted into law. Introduced February 13, 2019. Enacted.

Prognosis

Advancing 52% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

27 added · 78 removed

Plain-language change summary

The amendment to SB 549 tightens the rules around tax deductions for chemicals and reagents sold to certain companies, specifically limiting the deduction to larger sales of more than eighteen tons for hard-rock mining or milling operations. This means that smaller transactions might no longer qualify for the tax break. This change matters because it could increase tax revenue for the state by reducing the number of sales that can be deducted, while also potentially impacting smaller mining companies that rely on these deductions.

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SENATE BILL 549 54TH LEGISLATURE - STATEOFNEWMEXICO- FIRST SESSION, 2019 INTRODUCED BY Clemente Sanchez Pursuant to House Rule 24-1, this document incorporates amendments that have been adopted prior to consideration of this measure by the House.
It is a tool to show the amendments in context and is not to be used for the purpose of amendments.
NARROWING A GROSS RECEIPTS TAX DEDUCTION h FOR CHEMICALS AND REAGENTS.
NARROWING A GROSS RECEIPTS TAX DEDUCTION FOR CHEMICALS AND REAGENTS.
g o t hr g e i k BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
h r i s SECTION 1.
SECTION 1.
Section 7-9-65 NMSA 1978 (being Laws 1969, h , t, Chapter 144, Section 56) is amended to read:
Section 7-9-65 NMSA 1978 (being Laws 1969, Chapter 144, Section 56) is amended to read:
e u g e b l e e h "7-9-65.
"7-9-65.
DEDUCTION--GROSS RECEIPTS TAX--CHEMICALS AND n d d i = = o h REAGENTS.--Receipts from selling chemicals or reagents to any l ] b ,d i a º e mining, milling or oil company for use in processing ores or r i = r t e w d m a n o oil in a mill, smelter or refinery or in acidizing oil wells d m :
DEDUCTION--GROSS RECEIPTS TAX--CHEMICALS AND REAGENTS.--Receipts from selling chemicals or reagents to any mining, milling or oil company for use in processing ores or oil in a mill, smelter or refinery or in acidizing oil wells, and receipts from selling chemicals or reagents in lots in excess of eighteen tons to any hard-rock mining or milling company for use in any combination of extracting, leaching, milling, smelting, refining or processing ore at a mine site, may be deducted from gross receipts.
b e d s º o t n = .212904.1SA s k m e e a n e d r e l u [ A d [and receipts from selling chemicals or reagents in lots in excess of eighteen tons] SFCº, and receipts from selling chemicals or reagents in lots in excess of eighteen tons to any hard-rock mining or milling company for use in any combination of extracting, leaching, milling, smelting, refining or processing ore at a mine site,»SFC may be deducted from gross receipts.
- 2 - » g o » r h t i k l i g t h s , e h t l i w l b l e e , gh n d l h = = b , a l º d i a r e r = , a t e d m a n o d m :
SB 549 Page 1 25
b r e t º o t n = .212904.1SA s k m e e a n e d r e l u [ A d
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Action History

  1. Signed

  2. passed House

  3. DO PASS committee report adopted

  4. Sent to House Taxation & Revenue Committee

  5. passed Senate

  6. DO PASS, as amended, committee report adopted

  7. WITHOUT RECOMMENDATION committee report adopted

  8. Sent to Senate Corporations and Transportation Committee & Senate Finance Committee

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

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"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 549?
SB 549 is sponsored by Joshua A. Sanchez (Republican).
What is the current status of SB 549?
This bill has been enacted into law. Introduced February 13, 2019. Enacted.
Where can I track SB 549?
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