Contact: Erika Martinez
(505)986-4819
FOR IMMEDIATE RELEASE
March 6, 2014
Newly-Signed Bill Yields Positive Results for New Mexico Aviation Industry
Santa Fe, NM – Today, Governor Susana Martinez signed House Bill 14, which eliminates the Gross Receipts Tax on maintenance for aircraft services and parts. The legislation has already yielded positive results in the state as Santa Fe Aero Services, a full service aircraft avionics, maintenance and sales outlet, has decided to relocate its El Paso site to Santa Teresa. The aircraft service provider will join five other companies looking to locate in Santa Teresa, expecting to create about 150 jobs for the area.
Senator Carlos Cisneros (D-6-Los Alamos, Rio Arriba, Santa Fe & Taos), who co-sponsored the bill with Representative James P. White (R-20-Bernalillo), says he’s pleased that the Governor has signed the bill and is excited to be part of something that will allow for New Mexico to compete with surrounding states in the aviation industry.
“The passage of this bill will eliminate the flyovers in New Mexico and create jobs. This is clearly a great return on investment for our state,” Sen. Cisneros said.
According to the bill, 50 percent of the receipts from selling agricultural implements, farm tractors, aircraft or vehicles that are not required to be registered under the Motor Vehicle Code, may be deducted from gross receipts.
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