summary
Introduced
01/26/2026
01/26/2026
In Committee
01/27/2026
01/27/2026
Crossed Over
Passed
Dead
02/19/2026
02/19/2026
Introduced Session
2026 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX DEDUCTION FOR THE SALE OF CERTAIN EQUIPMENT AND MEDICATION DISPENSED BY A HEALTH CARE PRACTITIONER IN A PRACTICE SETTING; PROVIDING A HOLD HARMLESS DISTRIBUTION TO MUNICIPALITIES AND COUNTIES.
AI Summary
This bill allows for a deduction from gross receipts tax for sales of certain equipment and medications dispensed by healthcare practitioners in their practice settings, meaning that the tax will not be applied to these specific sales. It also includes provisions to hold harmless municipalities and counties by distributing funds to them to offset any potential loss of tax revenue resulting from these deductions, with the effective date of these changes set for July 1, 2026.
Sponsors (4)
Last Action
Senate Tax, Business and Transportation Committee (00:00:00 2/7/2026 Room 321) (on 02/07/2026)
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=S&legtype=B&legno=133&year=26 |
| Fiscal Note | https://www.nmlegis.gov/Sessions/26%20Regular/firs/SB0133.PDF |
| SCC Committee Report | https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0133CC1.pdf |
| BillText | https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0133.pdf |
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