summary
Introduced
01/18/2022
01/18/2022
In Committee
01/26/2022
01/26/2022
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING AN INCOME TAX EXEMPTION IN AN AMOUNT EQUAL TO THIRTY THOUSAND DOLLARS ($30,000) OF MILITARY RETIREMENT PAY.
AI Summary
This bill provides an income tax exemption of up to $30,000 for military retirement pay for individuals who have qualified by years of service or disability to separate from military service with lifetime benefits. The exemption applies to taxable years beginning on or after January 1, 2022. This measure aims to provide tax relief for retired members of the U.S. armed forces.
Committee Categories
Budget and Finance, Military Affairs and Security
Sponsors (16)
Eliseo Alcon (D)*,
Phelps Anderson (I)*,
Rachel Black (R),
Cathrynn Brown (R),
Randal Crowder (R),
Rebecca Dow (R),
Kelly Fajardo (R),
Harry Garcia (D),
Joy Garratt (D),
Joshua Hernandez (R),
T. Lane (R),
Stefani Lord (R),
Greg Nibert (R),
Randy Pettigrew (R),
Jane Powdrell-Culbert (R),
Luis Terrazas (R),
Last Action
House Taxation & Revenue Committee (09:00 1/31/2022 Room 317) (on 01/31/2022)
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=76&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0076.pdf |
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