Sat Mar 8 4:50PM - 13 days, 18 hours left in session
| Sponsor | ||
|---|---|---|
| Sen. Candy Spence Ezzell | 32 | Chaves & Eddy |
| Status | |||
|---|---|---|---|
| STBTC | [Referred, not scheduled] | ||
| SFC | |||
This is the official nmlegis action history. I'm doing my best to translate the LONG/WEIRD-STRING to something less gibberishy. And before you ask, no, the "Legis Day" number has no mapping to the real world.
Actions: [6] STBTC/SFC-STBTC
| Legis Day | Action | Details |
|---|---|---|
| 6 | referred | STBTC/SFC |
| 6 | sent | STBTC |
This table shows bill actions detected on Ed's system, using heuristics that may not be 100% accurate and which may not reflect the "official" nmlegis chronology. It is probably more than you care to know.
| Feb 13 | filed: [Prefiled by Candy Spence Ezzell; not yet on nmlegis] |
| [new] | |
| sent to STBTC | |
| title: '[prefiled by Candy Spence Ezzell; Not Yet on Nmlegis]' -> 'Gold & Silver Bullion Sale Gross Receipts' | |
| actions: 'SPREF' -> '[6] STBTC/SFC-STBTC' | |
| new sponsor: Candy Spence Ezzell |
SENATE BILL 382
57th legislature - STATE OF NEW MEXICO - first session, 2025
INTRODUCED BY
Candy Spence Ezzell
AN ACT
RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX DEDUCTION FOR THE SALE OF GOLD OR SILVER COINS AND GOLD OR SILVER BULLION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:
"[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS--SALE OF GOLD OR SILVER COINS AND BULLION.--
A. Receipts from the sale of gold or silver coins and gold or silver bullion may be deducted from gross receipts.
B. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.
C. The deduction provided by this section is a tax expenditure and shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the total annual aggregate cost of the deduction.
D. As used in this section, "gold or silver bullion" means gold or silver and any combination thereof:
(1) that has gone through a refining process;
(2) that is in a state or condition such that its value depends on its mass and purity and not on its form, numismatic value or other value;
(3) that may contain other metals or substances; provided that the other substances by themselves have minimal value compared with the value of the gold or silver;
(4) including bars, ingots and rounds; and
(5) excluding jewelry, works of art or novelty or commemorative pieces."
SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2025.
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