summary
Introduced
01/18/2022
01/18/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; CREATING A DEDUCTION FROM INCOME TAX FOR VOLUNTEER FIREFIGHTERS WHO ARE NONSALARIED.
AI Summary
This bill creates a new tax deduction for volunteer firefighters who are not salaried. The deduction allows eligible taxpayers to claim up to $3,000 from their net income. Married individuals filing separately can each claim half of the deduction. The state's tax department is required to report annually on the effectiveness and cost of the deduction, and to adopt rules for claiming it. The deduction applies to taxable years beginning on or after January 1, 2019.
Sponsors (7)
Rachel Black (R)*,
Daymon Ely (D)*,
Greg Nibert (R)*,
Stefani Lord (R),
Randy Pettigrew (R),
Bill Rehm (R),
Luis Terrazas (R),
Last Action
Action Postponed Indefinitely (on 01/19/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=40&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0040.pdf |
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