[1]NOTE:
As provided in LFC policy, this report is intended only for use by the
standing finance committees of the legislature. The Legislative
Finance Committee does not assume responsibility for the accuracy of the information
in this report when used in any other situation.
Only the most recent
FIR version (in HTML & Adobe PDF formats) is available on the Legislative
Website. The Adobe PDF version includes
all attachments, whereas the HTML version does not. Previously issued FIRs and attachments may be obtained from the
LFC’s office in Suite 101 of the State Capitol Building North.
|
SPONSOR: |
Lujan |
DATE TYPED: |
02/03/02 |
HB |
270 |
||
|
SHORT TITLE: |
Tricare Program Gross Receipts Deduction |
SB |
|
||||
|
|
ANALYST: |
Smith |
|||||
REVENUE
|
Estimated Revenue |
Subsequent Years
Impact |
Recurring or Non-Rec |
Fund Affected |
|
|
FY02 |
FY03 |
|
|
|
|
|
($257.0) |
|
Recurring |
General
Fund |
|
|
($204.0) |
|
Recurring |
Local
Funds |
(Parenthesis ( ) Indicate Revenue Decreases)
Taxation and Revenue Department
SUMMARY
This bill amends Section 7-9-77.1 NMSA 1978 to provide doctors and osteopathic physicians a gross receipts tax deduction for receipts from third-party administrators of the Federal Military TRICARE program. TRICARE is a managed care health insurance program similar to various managed care private insurance programs.
FISCAL IMPLICATIONS
TRD notes that roughly 3.9% of the state’s population is covered by TRICARE. However, veterans themselves, apparently, continue to elect treatment at military treatment facilities. The program administrator reported paying $7.5 million in claims in fiscal year 2000 for all professional services. An assumed 6% average rate of growth was used to produce the base on which the fiscal impact is based.
[1]Begin typing on the * in replace mode. Do not add or delete spaces.