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Council Special Session July 11 Focuses On Potential GRT Shortfall Should Triad File As Not-For-Profit Entity

on July 2, 2018 - 10:33am

COUNTY News:

The Los Alamos County Council will hold a special session at 6 p.m. Wednesday, July 11 in Council Chambers. The only topic on the agenda is a discussion of options and preparation needed because of a potential Gross Receipts Tax (GRT) shortfall that might be forthcoming if Triad National Security, LLC (TNS) – the apparent successful bidder for the O&M contract at LANL – files with the State of New Mexico as a not-for-profit entity.

The County would be without approximately $20 million in annual GRT if TNS was to make such a request. Options could include revenue enhancements or reductions in service, beginning later in 2018.

Los Alamos County has previously approved a flat budget for the next fiscal year given the currently unknown impact of a change in the Laboratory’s management contract, and anticipated the need to develop a revised budget once the details of the new contractor’s tax status became known.

The contract with TNS is expected to be in place Nov. 1, therefore the County would need to be prepared to implement changes this Fall.

Members of the public are welcome to attend the session and provide public comment. The session also will be televised on PAC-8 and streamed at https://www.losalamosnm.us/government/county_council.


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