HB 163 - Reduces Various Tax Rates, Establishes Credits - New Mexico Key Vote
Timeline
- Executive Signed
- March 8, 2022
- Passage With Amendment
- Feb. 17, 2022
- House Bill Passed
- Feb. 15, 2022
- Introduced
- Jan. 28, 2022
Related Issues
Stage Details
Title: Reduces Various Tax Rates, Establishes Credits
Signed by Governor Michelle Lujan Grisham
Title: Reduces Various Tax Rates, Establishes Credits
Title: Reduces Various Tax Rates, Establishes Credits
Vote Smart's Synopsis:
Vote to pass a bill that reduces various tax rates and establishes credits.
Highlights:
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Authorizes certain municipalities to retain a certain percentage of the hold harmless distribution (Page 1).
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Establishes a 2022 income tax credit for nurses employed by hospitals in Nex Mexico (Page 1).
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Establishes a 2021 income tax rebate (Page 1).
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Establishes a temporary child income tax credit (Page 1).
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Provides a temporary income tax exemption for military retirement pay (Page 1).
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Exempts social security income tax for certain individuals (Page 1).
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Expands the new solar market development income tax credit (Page 1).
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Expands the annual aggregate cap for the credit and making the credit refundable and transferable (Page 1).
Title: Reduces Various Tax Rates, Establishes Credits