Sat Mar 8 4:41PM - 13 days, 18 hours left in session
| Sponsors | ||
|---|---|---|
| Sen. Anthony L. Thornton | 19 | Bernalillo, Sandoval, Santa Fe & Torrance |
| Sen. Jay C. Block | 12 | Bernalillo & Sandoval |
| Sen. Pat Boone | 27 | Chaves, Curry, De Baca, Lea & Roosevelt |
| Sen. Steve D. Lanier | 2 | San Juan |
| Sen. David M. Gallegos | 41 | Eddy & Lea |
| Status | |||
|---|---|---|---|
| STBTC | [Referred, not scheduled] | ||
| SFC | |||
This is the official nmlegis action history. I'm doing my best to translate the LONG/WEIRD-STRING to something less gibberishy. And before you ask, no, the "Legis Day" number has no mapping to the real world.
Actions: [6] STBTC/SFC-STBTC
| Legis Day | Action | Details |
|---|---|---|
| 6 | referred | STBTC/SFC |
| 6 | sent | STBTC |
This table shows bill actions detected on Ed's system, using heuristics that may not be 100% accurate and which may not reflect the "official" nmlegis chronology. It is probably more than you care to know.
| Feb 14 | filed: [Prefiled by Anthony L. Thornton et al; not yet on nmlegis] |
| [new] | |
| sent to STBTC | |
| title: '[prefiled by Anthony L. Thornton Et Al; Not Yet on Nmlegis]' -> 'Citizens Tax Rebate' | |
| actions: 'SPREF' -> '[6] STBTC/SFC-STBTC' | |
| new sponsor: Anthony L. Thornton | |
| new sponsor: Jay C. Block | |
| new sponsor: Pat Boone | |
| new sponsor: Steve D. Lanier | |
| new sponsor: David M. Gallegos |
SENATE BILL 398
57th legislature - STATE OF NEW MEXICO - first session, 2025
INTRODUCED BY
Anthony L. Thornton and Jay C. Block and Pat Boone and Steve D. Lanier and David M. Gallegos
AN ACT
RELATING TO TAX REBATES; CREATING THE CITIZEN INCOME TAX REBATE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Income Tax Act is enacted to read:
"[NEW MATERIAL] CITIZEN INCOME TAX REBATE.--
A. For taxable years prior to 2033, a resident who is a citizen of the United States, who files an individual New Mexico income tax return and who is not a dependent of another individual is eligible for a tax rebate pursuant to this section in an amount equal to five hundred dollars ($500) plus five hundred dollars ($500) for each dependent claimed by the taxpayer in the taxable year plus five hundred dollars ($500) for the taxpayer's spouse if the taxpayer is married and filing a joint return. The rebate provided by this section may be referred to as the "citizen income tax rebate".
B. The rebate shall not be allowed for a return filed after May 31 of the year following the taxable year for which the rebate is claimed. Rebates shall be provided by the department as soon as practicable.
C. The rebate shall not be allowed for a taxpayer who was an inmate of a public institution for more than six months during the taxable year for which the tax rebate could be claimed or who was not physically present in New Mexico for at least six months during the taxable year for which the tax rebate could be claimed.
D. The rebate may be deducted from the taxpayer's New Mexico income tax liability. If the amount of rebate exceeds the taxpayer's income tax liability, the excess shall be refunded to the taxpayer.
E. The department may require a taxpayer to claim a rebate on forms and in a manner required by the department.
F. The rebate shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the rebate."
SECTION 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2025.
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