Martinez Administration Tax Cuts Posted

January 14, 2017
Blog Readers: The bills listed below are those behind the Martinez administration’s oft stated brag of having cut taxes 37 times. My column for publication January 16 to 20 discusses the cuts and concludes there is less to the claim than meets the eye. My column is posted at nmopinions.com after publication week.
The notes with the bill numbers are mine. Chris Sanchez only sent bill numbers and the year of passage.
One of the bills, Senate Bill 369 from 2012, showed no tax cuts. Let’s generous and assume the administration make a typo in compiling the bill numbers. – Harold Morgan

TO: Chrisj.Sanchez3@state.nm.us

12/20/16
Chris: My weekly column goes to nine community newspapers around the state. At the lunch today (12/20/16) of the legislative outlook conference of the New Mexico Tax Research Institute, Keith Gardner said, “We’ve cut taxes 37 times.” Please send me the list of those tax cuts. Please also include the session, bill number and estimated revenue impact.
Thank you. - Harold Morgan

Was unable to access fiscal impact report. Thus, do not have the forgone revenue from these cuts.

A number of these “cuts” were extensions of previously enacted tax credits or gross receipts exemptions. Others raised the amount of sales required for a tax to be charged. Taxes tended to be very narrowly focused.

12/22/16
Chrisj.Sanchez3@state.nm.us
Hey Harold. Here you go:

2011 HB 273 Trivial. limiting the research and development small business tax credit and extending it until 2015.

2011 HB 437 More than trivial. Possibly discriminates against rural counties? A property tax exemption for veteran’s organizations.
2011 HB 440 an “advanced energy deduction” and a gross receipts and compensating tax deduction to encourage the construction and development of qualified generating facilities to sequester or control carbon dioxide emissions. Hugely speculative. Amounts potentially very large.

2011 HB 523;SB 179 a gross receipts deduction for locomotive fuel. This might be called the Union Pacific bill. A deal breaker, it was called, with regard to UP constructing its rail yard near Santa teresa. . It was also an extension of a ill passed several years before.
2011 SB 84 Extending the gross receipts and compensation tax deduction for gross receipts on fuel specially prepared and sold for use in turboprop or jet-type engines. Appears to be a very narrow interest.

2011 SB 282
2012 HB 184 – two deductions
2012 HB 184
2012 HB 10
2012 HB 116
2012 HB 123
2012 SB 32
2012 SB 369 – No cut. Just definitions.
2013 HB 106
2013 HB 641 – Film and more.
2013 HB 641
2013 SB 14 – Extending tax credit.
2013 SB 81 – Increases and decreases beer tax.
2013 SB 116 – Increases wine tax rate, increases volume limit, cuts tax amount.
2013 SB 160
2014 HB24
2014 HB14
2014 SB88
2014 HB32
2014 HB288 – Biofuels.
2014 SB106
2015 SB279
2015 SB302
2015 SB448
2015 SB506
2015, (special session) HB2 Tax package. It dealt with a hodgepodge including the angel investment tax credit, medical care expenses, selling stuff to companies dealing with thee Department of Defense, and refunding the petroleum products loading fee. (What is the petroleum products loading fee? Why do we have it?)
2015, special HB2
2015, special HB2
2015, special HB2
2015, special HB2
2015, special HB2
2015, special HB2