New Mexico 2023 Regular Session

New Mexico House Bill HB301 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 301
29	29	56
30	30	TH LEGISLATURE
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33	33	STATE
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39	39	MEXICO
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42	42	FIRST SESSION
43	43	,
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45	45	2023
46	46	INTRODUCED BY
47	47	Ambrose Castellano
48	48	AN ACT
49	49	RELATING TO THE GAMING TAX; PROVIDING A RATE DIFFERENTIAL FOR
50	50	CERTAIN GAMING OPERATOR LICENSEES LOCATED IN A CLASS A COUNTY.
51	51	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
52	52	SECTION 1. Section 60-2E-47 NMSA 1978 (being Laws 1997,
53	53	Chapter 190, Section 49, as amended) is amended to read:
54	54	"60-2E-47. GAMING TAX--IMPOSITION--ADMINISTRATION.--
55	55	A. An excise tax is imposed on the privilege of
56	56	engaging in gaming activities in the state. This tax shall be
57	57	known as the "gaming tax".
58	58	B. The gaming tax is an amount equal to:
59	59	(1) ten percent of the gross receipts of
60	60	manufacturer licensees from the sale, lease or other transfer
61	61	of gaming devices in or into the state, except receipts of a
62	62	manufacturer from the sale, lease or other transfer to a
63	63	.224115.1 underscored material = new
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90	90	licensed distributor for subsequent sale or lease may be
91	91	excluded from gross receipts;
92	92	(2) ten percent of the gross receipts of
93	93	distributor licensees from the sale, lease or other transfer of
94	94	gaming devices in or into the state;
95	95	(3) ten percent of the net take of a gaming
96	96	operator licensee that is a nonprofit organization;
97	97	(4) thirteen percent of the net take of a
98	98	gaming operator licensee located in a class A county and within
99	99	a sixty-mile radius of three or more tribal casinos ; and
100	100	(5) twenty-six percent of the net take of
101	101	every other gaming operator licensee. [For the purposes of
102	102	this section, "gross receipts" means the total amount of money
103	103	or the value of other consideration received from selling,
104	104	leasing or otherwise transferring gaming devices. ]
105	105	C. The gaming tax imposed on a licensee is in lieu
106	106	of all state and local gross receipts taxes on that portion of
107	107	the licensee's gross receipts attributable to gaming
108	108	activities.
109	109	D. The gaming tax is to be paid on or before the
110	110	fifteenth day of the month following the month in which the
111	111	taxable event occurs. The gaming tax shall be administered and
112	112	collected by the taxation and revenue department in cooperation
113	113	with the board. The provisions of the Tax Administration Act
114	114	apply to the collection and administration of the tax.
115	115	.224115.1
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143	143	E. In addition to the gaming tax, a gaming operator
144	144	licensee that is a racetrack shall pay twenty percent of its
145	145	net take to purses to be distributed in accordance with rules
146	146	adopted by the state racing commission. An amount not to
147	147	exceed twenty percent of the interest earned on the balance of
148	148	any fund consisting of money for purses distributed by
149	149	racetrack gaming operator licensees pursuant to this subsection
150	150	may be expended for the costs of administering the
151	151	distributions. A racetrack gaming operator licensee shall
152	152	spend no less than one-fourth percent of the net take of its
153	153	gaming machines to fund or support programs for the treatment
154	154	and assistance of compulsive gamblers.
155	155	F. A nonprofit gaming operator licensee shall
156	156	distribute at least sixty percent of the balance of its net
157	157	take, after payment of the gaming tax and any income taxes,
158	158	for charitable or educational purposes.
159	159	G. For the purposes of this section, "gross
160	160	receipts" means the total amount of money or the value of other
161	161	consideration received from selling, leasing or otherwise
162	162	transferring gaming devices. "
163	163	SECTION 2. EFFECTIVE DATE.--The effective date of the
164	164	provisions of this act is July 1, 2023.
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