Bill > SB62

This bill creates the Health Care Preceptor Income Tax Credit in New Mexico. The key provisions are: 1) Taxpayers who are preceptors (licensed medical professionals) employed by accredited New Mexico higher education institutions and who have performed at least a 4-week preceptorship in New Mexico can claim a tax credit of up to $1,000 for up to 5 preceptorships per year. 2) The tax credit can be carried forward and used against future tax liability if it exceeds the taxpayer's current year tax liability. 3) The New Mexico Taxation and Revenue Department must compile an annual report on the effectiveness and cost of the tax credit and present it to the state legislature. 4) The bill defines key terms such as "eligible graduate student," "eligible professional degree," and "preceptorship" to clarify the scope of the tax credit. The bill applies to taxable years beginning on or after January 1, 2021, providing a new incentive for medical professionals to serve as preceptors and support the training of the next generation of healthcare providers in New Mexico.

Budget and Finance

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=62&year=21