Bill > SB205

This bill enacts the County Hospital Gross Receipts Tax, which allows a county meeting certain population and property value criteria to impose a 0.5% excise tax on businesses in the county. The tax revenue must be used for two purposes: 25% to support a nursing program administered by a state university or branch in the county, and the remainder to pay for hospital capital projects in the county. The tax must be approved by a majority of voters in the county before it can be imposed, and it can be reimposed after the initial term expires. The bill specifies that "capital projects" include designing, constructing, equipping, remodeling, renovating, and improving hospital buildings and grounds.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=205&year=23