summary
Introduced
02/02/2022
02/02/2022
In Committee
02/03/2022
02/03/2022
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING A NONREFUNDABLE TAX CREDIT FOR TAXABLE YEAR 2022.
AI Summary
This bill provides a nonrefundable tax credit for the 2022 taxable year for full-year or first-year New Mexico resident taxpayers who are not trusts, estates, or dependents of another taxpayer. The credit amounts are $300 for single individuals and married individuals filing separately, $450 for heads of household and surviving spouses, and $600 for married individuals filing jointly. If the tax credit exceeds the taxpayer's income tax liability, the excess will not be refunded. The bill uses the Internal Revenue Code's definition of "dependent" for the purposes of this tax credit.
Committee Categories
Budget and Finance
Sponsors (14)
Greg Baca (R)*,
Craig Brandt (R)*,
Bill Sharer (R)*,
Bill Burt (R),
Crystal Diamond Brantley (R),
David Gallegos (R),
Ron Griggs (R),
Gay Kernan (R),
Mark Moores (R),
Steve Neville (R),
Cliff Pirtle (R),
Joshua Sanchez (R),
Gregg Schmedes (R),
Pat Woods (R),
Last Action
Action Postponed Indefinitely (on 02/03/2022)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=215&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0215.pdf |
Loading...