summary
Introduced
01/25/2023
01/25/2023
In Committee
02/10/2023
02/10/2023
Crossed Over
Passed
Dead
03/18/2023
03/18/2023
Introduced Session
2023 Regular Session
Bill Summary
Index Social Security Income For Taxes
AI Summary
This bill indexes the Social Security income exemption thresholds in New Mexico to account for inflation. Specifically, it amends the existing law to adjust the maximum adjusted gross income thresholds for claiming the Social Security income exemption each year starting in 2024 based on changes in the consumer price index. This will ensure that the exemption keeps pace with inflation and continues to provide tax relief for retirees and others relying on Social Security income.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
House Taxation & Revenue Committee (08:30:00 2/17/2023 Room 317) (on 02/17/2023)
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=193&year=23 |
| BillText | https://www.nmlegis.gov/Sessions/23%20Regular/bills/house/HB0193.pdf |
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