summary
Introduced
02/15/2023
02/15/2023
In Committee
03/02/2023
03/02/2023
Crossed Over
Passed
Dead
03/18/2023
03/18/2023
Introduced Session
2023 Regular Session
Bill Summary
Armed Force Retirement Tax Sunset Date
AI Summary
This bill extends the exemption for armed forces retirement pay from the state income tax in New Mexico. Previously, the exemption was set to expire in 2026, but this bill removes the sunset date, making the $30,000 exemption permanent for all tax years after 2023. This ensures that retired members of the U.S. armed forces continue to receive this tax benefit on their military retirement income without the exemption expiring in the future.
Committee Categories
Military Affairs and Security
Sponsors (5)
Last Action
House Taxation & Revenue Committee (08:30:00 3/3/2023 Room 317) (on 03/03/2023)
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=433&year=23 |
| BillText | https://www.nmlegis.gov/Sessions/23%20Regular/bills/house/HB0433.pdf |
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