HB 499 New Jobs Income and Corporate Income Tax Credit (Rep Don Tripp, R)
This bill will be heard today, Monday, February 18, in the House Taxation and Revenue Committee following the floor session. HB 499 grants nonrefundable personal and corporate ‘new jobs’ income tax credits for each new job created by the taxpayer. The taxpayer must have paid an eligible employee wages for performing the new job for at least 48 full-time work weeks. This would allow up to $1,000 in tax credit for each eligible employee employed by an eligible employer for a full taxable year; fractional amounts of tax credit allowed for employment for a fraction of a year.

HB 194 Amend Motor Carrier Law Act (Reps Carl Trujillo (D) and Tom Taylor (R)) would eliminate the motor carrier exception from state antitrust laws; limits protests and streamlines the filing of tariffs and applications among other things.

The NMBC has sat through Public Regulation Commission (PRC) hearings for companies that have been denied the right to start a new business; current law is designed to protect existing companies by denying competition. It is embarrassing to live in a state that is at the top of the nation’s poverty level and denying new business and job opportunities. This law needs to be changed!

HB 352 Capital Outlay Project Contribution (Rep Jason Harper, R) known as a “clawback” provision, requires the recipient of public support for local economic development projects to provide security to the governmental entity providing that support.

Finally – someone who gets it! If the state wants to give special consideration to companies to promote economic development, that’s great; but let’s make sure the state isn’t hurt in the process.

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