45th legislature - STATE OF NEW MEXICO - first session, 2001
RELATING TO TAXATION; EXEMPTING NURSING HOME RECEIPTS FROM THE GROSS RECEIPTS TAX.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:
"[NEW MATERIAL] EXEMPTION--GROSS RECEIPTS TAX--NURSING HOME RECEIPTS.--Exempted from the gross receipts tax are the receipts of nursing homes licensed by the department of health."
Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2001.