New Mexico

HB 220 – Reduce Various Coal Taxes

Sponsored by: Rep. James Strickler
New Mexico legislation that reduces taxes on coal industries.

Short Summary

This bill would reduce the gross receipts, severance, resources and processors, and conservation tax rates paid by the coal industry.

General Description

“AN ACT RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS RECEIPTS FOR THE SALE OR PROCESSING OF COAL UNTIL 2031; REDUCING THE

RATE OF THE RESOURCES TAX, PROCESSORS TAX, SEVERANCE TAX AND OIL AND GAS CONSERVATION TAX ON COAL UNTIL 2031; PROVIDING A DELAYED REPEAL.” [SB 134, New Mexico Legislature]

Bill Sponsor(s)

Rep. James Strickler

Detailed Bill Summary 

This legislation “attempts to soften the blow of the closure of the San Juan Generating Station and Four Corners Power Plant by reducing taxes on coal industries.” [Hannah Grover, “Bill proposes reducing taxes on coal-related industries,” Farmington Daily Times, 02/06/18]

Current Status

01/25/18 – Sent to HENRC – Referrals: HENRC/HTRC, postponed indefinitely. [HB 220 Bill History, New Mexico Legislature]

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