The First Session of the 57th Legislature

January 2-17, 2025: Legislation may be prefiled
January 21: Opening day (noon)
February 20: Deadline for introduction
March 22: Session ends (noon)
April 11: Legislation not acted upon by governor is pocket vetoed
June 20: Effective date of legislation not a general appropriation bill or a bill carrying an emergency clause or other specified date

BlueSky Profile

Bill calls for revamping ‘Swiss cheese’ tax policy

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http://www.bizjournals.com/albuquerque/news/2013/02/22/bill-calls-for-revamping-swiss.html

By: 

Reporter-Albuquerque Business First

A bill introduced Friday in the New Mexico Senate calls for a blue-ribbon tax reform commission to reshape the state’s tax policy.

Senate Bill 502 seeks to end special tax rates, cuts and credits and replace them with one comprehensive tax strategy.

The bill would re-establish the commission, which was originally created in 2003, and charge it with drawing up a new tax strategy by November.

Sen. Tim Keller, D-Bernalillo County, said, “Our tax policy looks like Swiss cheese,” with more than 400 loopholes.

“Our tax code is broken — it’s time for modernization. With comprehensive tax reform, we can set the stage for growth in our economy while making funds available for important programs like education,” Keller said.

The bill will first be heard in the Senate Rules Committee.

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