Tax Proposals

The New Mexico Tax Research Institute (www.nmtri.org) passes along the tax proposals endorsed for the 2009 session by the interim Revenue Stabilization and tax Policy Committee. TRI calls the proposals "relatively low impact."

The dozen proposals include a fix to the small counties assistance distribution formula, $800,000 to the emergency service fund, more money to municipalities from the law enforcement protection fund, fixing (i.e., removing) the application of overtime of the state's new minimum wage to police, firefighters and other government employees not working "traditional" 40 hour schedules, a local option for capital outlay for gross receipts taxes, money for a statewide, computer-assisted mass property tax appraisal system, expanding the ability of local governments and tribes to deposit money with the state treasurer for investment, and a couple of proposals affecting wine producers.