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Tax-code cleanup bill advances after removing tribal film-credit expansion and adopting rounding, interception fixes
Summary
House Bill 291, the annual tax-code cleanup bill, passed the committee twice amended after lawmakers adopted technical fixes including rounding rules for cash remittances, the ability to intercept delinquent property auction proceeds to pay state tax debts, and removal of a proposed expansion to allow certain tribal land film expenditures to qualify for the refundable film tax credit.
A House committee advanced House Bill 291 after adopting two amendments that reshape portions of the tax-code cleanup measure, including removing a proposed expansion of the refundable film tax credit to certain tribal land expenditures.
The sponsor introduced the bill and the committee adopted Amendment 1 (retaining New Mexico's independent definition of qualified research). Taxation and Revenue Secretary Stephanie Chardonn Clarke summarized a package of technical fixes proposed in the bill: rounding amounts remitted to the department to the nearest…
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