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The Legislature in the final minutes of its 60-day session Saturday pushed through a broad tax break package that includes several measures sought by Gov. Susana Martinez.
Dying upon adjournment Saturday was a proposal to expand background checks on people buying firearms from private sellers at gun shows. Republican senators debated in opposition to the bill — HB 77 — as the clock ticked toward adjournment at noon.
On the tax measure, the House concurred 46-18 just before adjournment with Senate amendments to the bill.
The bill passed the Senate by a 34-8 vote. It had to return to the House for concurrence.
A hefty amendment to House Bill 641, a revived version of the film tax credit measure vetoed yesterday by Martinez, turned the bill into a de facto tax package.
Sen. John Arthur Smith, D-Deming, and Sen. George Munoz, D-Gallup, are pushing the amendment.
Among other things, the last-minute tax package would cut the state’s top-end business tax rate from 7.6 percent to 5.9 percent over five years.
It would also tighten the qualifications for a pair of existing tax incentives that have ended up costing the state more money in forgone revenue than originally projected.
The governor scheduled a news conference at 12:45 p.m.
Read more about the outcome of the legislative session:
- At the Roundhouse — The end
- Highlights of 51st New Mexico Legislature
- Overview: New Mexico Legislature adjourns
-- Email the reporter at dboyd@abqjournal.com. Call the reporter at 505-992-6281
