STATE News:
Senate Bill 17, the Lab Stabilization Bill, passed the House overnight 48-19 and is headed to Gov. Susana Martinez to sign into law.
SB 17 is a bill to stabilize gross receipts tax revenues received from prime contractors at Los Alamos National Laboratory and Sandia National Laboratories.
Prime contractors have been paying tax since 1979 at Sandia and 2006 at LANL. In Fiscal Year 2016, the State received some $162 million paid through the two Lab contracts through GRT.
SB17 is sponsored by Dist. 43 Rep. Stephanie Garcia Richard, Sen. Richard C. Martinez and Sen. Carlos R. Cisneros. Read More