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HB 547 - Restructures the State Tax System - New Mexico Key Vote

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Title: Restructures the State Tax System

Vote Smart's Synopsis:

Vote to pass a bill that restructures the state tax system in New Mexico.

Highlights:

  • Repeals previous tax language regarding definitions of brackets and who qualifies for which bracket depending on income (Sec. 1). 

  • Expands the amounts available for child tax credits for certain taxpayers (Sec. 1). 

  • Establishes additional 2021 tax rebates (Sec. 1). 

  • Expands the amount of tax credits available for film productions in the state (Sec. 1). 

  • Defines terms related to film production and new tax credits available for film productions in New Mexico (Sec. 1). 

  • Amends eligibility for certain tax credits (Sec. 1). 

  • Expands tax reduction for certain healthcare practitioners (Sec. 1).

Full Bill Text

See How Your Politicians Voted

Title: Restructures the State Tax System

Vote Smart's Synopsis:

Vote to pass a bill that restructures the state tax system in New Mexico.

Highlights:

  • Repeals previous tax language regarding definitions of brackets and who qualifies for which bracket depending on income (Sec. 1). 

  • Expands the amounts available for child tax credits for certain taxpayers (Sec. 1). 

  • Establishes additional 2021 tax rebates (Sec. 1). 

  • Expands the amount of tax credits available for film productions in the state (Sec. 1). 

  • Defines terms related to film production and new tax credits available for film productions in New Mexico (Sec. 1). 

  • Amends eligibility for certain tax credits (Sec. 1). 

  • Expands tax reduction for certain healthcare practitioners (Sec. 1).

Full Bill Text

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