Bill introduced could affect Ruidoso Downs Racetrack

Santa Fe, NM - January 31, 2010 - A bill that would pave the way for an increase in the gross receipts tax, and which could possibly be applied to Ruidoso Downs Race Track, was introduced in the New Mexico Legislature Thursday.

HB 203, the Business Retention Gross Receipts Tax and Gaming Tax, was sponsored by Thomas A Garcia, a Democrat representing District 68 in northern New Mexico.

On Friday the bill was in the House Business & Industry Committee.

According to language in the bill:

"An ordinance imposing the county business retention gross receipts tax shall not go into effect until after an election is held and a majority of the voters in the county area voting in the election vote in favor of imposing the tax.

"The governing body shall adopt a resolution calling for an election within 75 days of the date the ordinance is adopted on the question of imposing the tax. The question shall be submitted to the voters of the county area as a separate question at a general election or at a special election called for that purpose by the governing body.

"A special election shall be called, conducted and canvassed in substantially the same manner as provided by law for general elections. If a majority of the voters voting on the question approves the ordinance imposing the county business retention gross receipts tax, then the ordinance shall become effective in accordance with the provisions of the County Local Option Gross Receipts Taxes Act.

"If the question of imposing the county business retention gross receipts tax fails, the governing body shall not again propose the imposition of the tax for a period of one year from the date of the election."

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