SENATE BILL 11

54th legislature - STATE OF NEW MEXICO - first special session, 2020

INTRODUCED BY

Michael Padilla

 

 

 

 

 

AN ACT

RELATING TO TAXATION; CREATING AN INCOME TAX EXEMPTION FOR TAXABLE YEAR 2020 FOR FIRST RESPONDERS.

 

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] EXEMPTION--FIRST RESPONDERS.--

          A. A taxpayer who is a first responder may claim an exemption from income includable in an amount not to exceed twenty percent of the individual's net income received as a first responder for taxable year 2020.

          B. Prior to claiming the exemption provided by this section, a taxpayer shall apply to the department on forms and in a manner required by the department for certifying that the taxpayer is a first responder for purposes of this section.

          C. As used in this section, "first responder" means a person referred to as a first responder in any executive order issued by the governor in 2020 relating to the coronavirus disease 2019 pandemic."

- 2 -