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Independent Petroleum Association of New Mexico
New Mexico Legislative Status Report The following bills that may be of interest to our members have been introduced in the Second Regular Session of New Mexico's 45th Legislature, which bills will be monitored during the Session, and I will continue to be alert for any other developments that might specifically affect our industry: HB 165--Tribal Capital Improvements Tax Credit: Introduced by Representative Ben Lujan, Dem., Dist. 46 (Santa Fe). Would provide that one liable for the oil and gas severance tax, conservation tax or emergency school tax on production from Indian tribal land will have a credit each month equal to the lesser of the tax that is exclusively dedicated to fund capital improvement projects on the tribal land (but not commercial buildings) imposed on such production by the Indian tribe, or 2% of the taxable value of such production. The burden of showing entitlement to this credit would be on the taxpayer, who must furnish proof of payment of the tribal tax. This bill was assigned to the House Energy & Natural Resources and Taxation & Revenue Committees. On Friday, January 25, a hearing was held before the former, where it was temporarily tabled until Monday, January 28, at 8:30 a.m., to allow industry and the Jicarilla Apache Tribe to try to agree on its language. HJM 17--Coordinated Oil & Gas Permitting Process: Introduced by Representative Patricia A. Lundstrom, Dem., Dist. 5 (McKinley). Would request that the Department of Environment, the Oil Conservation Division and the federal Bureau of Land Management cooperate in the development of a coordinated permit process for oil and gas activities. This joint memorial was assigned to the House Energy & Natural Resources and Business & Industry Committees, and a hearing before the former will be held on Monday, January 28, at 8:30 a.m. SB 16--Lea and Carlsbad Conservation District Study: Introduced by Senator Carroll H. Leavell, Rep. Dist. 41 (Eddy & Lea). Would appropriate $500,000 to New Mexico State University for Fiscal Year 2003 for a study by the Lea and Carlsbad Soil and Water Conservation Districts of issues related to the use of water produced by oil and gas exploration from "deep underground." This bill was found germane by the Senate Committees Committee and, on Thursday, January 24, a hearing was held before the Senate Conservation Committee, where it received a "Do Pass" and was sent to the Senate Finance Committee. I will continue to keep you posted concerning any changes or additional issues. Tom Nance IPANM Executive Director January 27, 2002
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