HOUSE BILL 55

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Alan T. Martinez and John Block

 

 

 

 

 

AN ACT

RELATING TO TAXATION; PROVIDING AN INCOME TAX DEDUCTION FOR FIRST RESPONDER RETIREMENT INCOME.

 

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] DEDUCTION--FIRST RESPONDER RETIREMENT INCOME.--

          A. A taxpayer who is a first responder retiree or the unmarried surviving spouse of a first responder retiree may claim a deduction in an amount equal to fifty percent of the taxpayer's retirement pay earned for service as a first responder includable in net income.

          B. To claim a deduction pursuant to this section, a taxpayer shall submit to the department information required by the secretary establishing that the taxpayer is eligible to claim the deduction.

          C. A taxpayer allowed the deduction pursuant to this section shall report the amount of the deduction to the department in a manner required by the department.

          D. The deduction provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the deduction.

          E. As used in this section, "first responder" means a law enforcement officer, a firefighter or emergency medical services personnel whose duties include responding rapidly to an emergency."

     SECTION 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2026.

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