HOUSE BILL 277

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Thomas A. Anderson

AN ACT

RELATING TO TAXATION; PROVIDING AN EXEMPTION FROM INCOME TAX FOR UNITED STATES UNIFORMED SERVICES RETIREMENT AND SURVIVORS BENEFIT PAYMENTS.

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--UNITED STATES UNIFORMED SERVICES RETIREMENT AND SURVIVORS BENEFITS PAYMENTS.--Retirement payments and survivors benefit payments received with respect to service in the uniformed services of the United States are exempt from income tax. For the purpose of this section, "uniformed services" means the United States army, navy, air force, marine corps and coast guard and the commissioned corps of the national oceanic and atmospheric administration and the United States public health service."

     Section 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2009.

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