Bill > HB46

This bill amends the Hospital Equipment Loan Act to modify definitions and tax exemptions related to health-related equipment and property. Specifically, the bill removes "real property" from the definition of health-related equipment, meaning that only personal property, instruments, services, and operational necessities will now be considered health-related equipment. The bill also clarifies a tax exemption provision, stipulating that real property first purchased, acquired, leased, financed, or refinanced before July 1, 2025, using bonds issued under the Hospital Equipment Loan Act will lose its tax-exempt status if it is further purchased, acquired, leased, financed, or refinanced on or after that date. This change means that such real property will become subject to property taxation after July 1, 2025. The bill is part of the New Mexico Hospital Equipment Loan Program, which helps healthcare facilities finance and acquire necessary medical equipment, and is designed to provide clarity and update the existing legal framework governing these financial transactions and tax exemptions.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=46&year=25