summary
Introduced
01/19/2022
01/19/2022
In Committee
01/20/2022
01/20/2022
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 armed forces retirees. The exemption applies to individuals who have qualified for lifetime military retirement benefits after serving in the U.S. armed forces. The provisions of the bill apply to taxable years beginning on or after January 1, 2022.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Senate Tax, Business and Transportation Committee (00:00 2/1/2022 Room 321) (on 02/01/2022)
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=S&legtype=B&legno=85&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0085.pdf |
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