Sat Mar 8 5:30PM - 13 days, 17 hours left in session
| Sponsors | ||
|---|---|---|
| Sen. Gabriel Ramos | 28 | Grant, Hidalgo, Luna |
| Sen. Joshua A. Sanchez | 29 | Socorro & Valencia |
| Sen. Jay C. Block | 12 | Bernalillo & Sandoval |
| Sen. Anthony L. Thornton | 19 | Bernalillo, Sandoval, Santa Fe & Torrance |
| Status | |||
|---|---|---|---|
| STBTC ❓ | Possibly heard on Mar 6; it may take 1-2 days to learn status. | ||
| 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: [8] STBTC/SFC-STBTC
| Legis Day | Action | Details |
|---|---|---|
| 8 | referred | STBTC/SFC |
| 8 | 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 20 | filed: [Prefiled by Gabriel Ramos et al; not yet on nmlegis] |
| [new] | |
| sent to STBTC | |
| title: '[prefiled by Gabriel Ramos Et Al; Not Yet on Nmlegis]' -> 'No Armed Forces Retirement Tax Exempt Limit' | |
| actions: 'SPREF' -> '[8] STBTC/SFC-STBTC' | |
| new sponsor: Gabriel Ramos | |
| new sponsor: Joshua A. Sanchez | |
| new sponsor: Jay C. Block | |
| new sponsor: Anthony L. Thornton | |
| Mar 3 | scheduled for STBTC on Tue Mar 4, 13:30 |
| Mar 4 | removed from STBTC 03-04 |
| Mar 5 | scheduled for STBTC on Thu Mar 6, 13:30 |
SENATE BILL 497
57th legislature - STATE OF NEW MEXICO - first session, 2025
INTRODUCED BY
Gabriel Ramos and Joshua A. Sanchez and Jay C. Block
and Anthony L. Thornton
AN ACT
RELATING TO INCOME TAX; REMOVING THE LIMIT ON THE AMOUNT OF THE INCOME TAX EXEMPTION FOR ARMED FORCES RETIREMENT PAY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 7-2-5.13 NMSA 1978 (being Laws 2022, Chapter 47, Section 6, as amended) is amended to read:
"7-2-5.13. EXEMPTION--ARMED FORCES RETIREMENT PAY.--
A. An individual who is an armed forces retiree or the surviving spouse of an armed forces retiree may claim an exemption in [an amount equal to thirty thousand dollars ($30,000) of] the amount of the retiree's armed forces retirement pay includable, except for this exemption, in net income.
B. As used in this section, "armed forces retiree" means a former member of the armed forces of the United States who has qualified by years of service or disability to separate from military service with lifetime benefits."
SECTION 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2026.
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