New Mexico 2025 Regular Session

New Mexico Senate Bill SB424 Compare Versions

Only one version of the bill is available at this time.

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28	28	SENATE BILL 424
29	29	57
30	30	TH LEGISLATURE
31	31	-
32	32
33	33	STATE
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35	35	OF
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37	37	NEW
38	38
39	39	MEXICO
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41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Pat Woods
48	48	AN ACT
49	49	RELATING TO TAXATION; EXPANDING THE RURAL HEALTH CARE
50	50	PRACTITIONER TAX CREDIT TO INCLUDE LICENSED RESPIRATORY CARE
51	51	PRACTITIONERS AND POLYSOMNOGRAPHIC TECHNOLOGISTS.
52	52	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
53	53	SECTION 1. Section 7-2-18.22 NMSA 1978 (being Laws 2007,
54	54	Chapter 361, Section 2, as amended) is amended to read:
55	55	"7-2-18.22. RURAL HEALTH CARE PRACTITIONER TAX CREDIT.--
56	56	A. A taxpayer who files an individual New Mexico
57	57	tax return, who is not a dependent of another individual, who
58	58	is an eligible health care practitioner and who has provided
59	59	health care services in New Mexico in a rural health care
60	60	underserved area in a taxable year may claim a credit against
61	61	the tax liability imposed by the Income Tax Act. The credit
62	62	provided in this section may be referred to as the "rural
63	63	.230940.1 underscored material = new
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90	90	health care practitioner tax credit".
91	91	B. The rural health care practitioner tax credit
92	92	may be claimed and allowed in an amount that shall not exceed:
93	93	(1) five thousand dollars ($5,000) for all
94	94	physicians, osteopathic physicians, dentists, psychologists,
95	95	podiatric physicians and optometrists who qualify pursuant to
96	96	the provisions of this section and have provided health care
97	97	during a taxable year for at least one thousand five hundred
98	98	eighty-four hours at a practice site located in an approved
99	99	rural health care underserved area. Eligible health care
100	100	practitioners listed in this paragraph who provided health care
101	101	services for at least seven hundred ninety-two hours but less
102	102	than one thousand five hundred eighty-four hours at a practice
103	103	site located in an approved rural health care underserved area
104	104	during a taxable year are eligible for one-half of the tax
105	105	credit amount; and
106	106	(2) three thousand dollars ($3,000) for all
107	107	pharmacists, dental hygienists, physician assistants, certified
108	108	registered nurse anesthetists, certified nurse practitioners,
109	109	clinical nurse specialists, registered nurses, midwives,
110	110	licensed clinical social workers, licensed independent social
111	111	workers, professional mental health counselors, professional
112	112	clinical mental health counselors, marriage and family
113	113	therapists, professional art therapists, alcohol and drug abuse
114	114	counselors, [and] physical therapists, respiratory care
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143	143	practitioners and polysomnographic technologists who qualify
144	144	pursuant to the provisions of this section and have provided
145	145	health care during a taxable year for at least one thousand
146	146	five hundred eighty-four hours at a practice site located in an
147	147	approved rural health care underserved area. Eligible health
148	148	care practitioners listed in this paragraph who provided health
149	149	care services for at least seven hundred ninety-two hours but
150	150	less than one thousand five hundred eighty-four hours at a
151	151	practice site located in an approved rural health care
152	152	underserved area during a taxable year are eligible for one-
153	153	half of the tax credit amount.
154	154	C. Before an eligible health care practitioner may
155	155	claim the rural health care practitioner tax credit, the
156	156	practitioner shall submit an application to the department of
157	157	health that describes the practitioner's clinical practice and
158	158	contains additional information that the department of health
159	159	may require. The department of health shall determine whether
160	160	an eligible health care practitioner qualifies for the rural
161	161	health care practitioner tax credit and shall issue a
162	162	certificate to each qualifying eligible health care
163	163	practitioner. The department of health shall provide the
164	164	taxation and revenue department appropriate information for all
165	165	eligible health care practitioners to whom certificates are
166	166	issued in a secure manner on regular intervals agreed upon by
167	167	both the taxation and revenue department and the department of
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196	196	health.
197	197	D. A taxpayer claiming the credit provided by this
198	198	section shall submit a copy of the certificate issued by the
199	199	department of health with the taxpayer's New Mexico income tax
200	200	return for the taxable year. If the amount of the credit
201	201	claimed exceeds a taxpayer's tax liability for the taxable year
202	202	in which the credit is being claimed, the excess may be carried
203	203	forward for three consecutive taxable years.
204	204	E. A taxpayer allowed a tax credit pursuant to this
205	205	section shall report the amount of the credit to the department
206	206	in a manner required by the department.
207	207	F. The department shall compile an annual report on
208	208	the tax credit provided by this section that shall include the
209	209	number of taxpayers approved by the department to receive the
210	210	credit, the aggregate amount of credits approved and any other
211	211	information necessary to evaluate the credit. The department
212	212	shall present the report to the revenue stabilization and tax
213	213	policy committee and the legislative finance committee with an
214	214	analysis of the cost of the tax credit.
215	215	G. As used in this section:
216	216	(1) "eligible health care practitioner" means:
217	217	(a) a dentist or dental hygienist
218	218	licensed pursuant to the Dental Health Care Act;
219	219	(b) a midwife that is a: 1) certified
220	220	nurse-midwife licensed by the board of nursing as a registered
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249	249	nurse and licensed by the public health division of the
250	250	department of health to practice nurse-midwifery as a certified
251	251	nurse-midwife; or 2) licensed midwife licensed by the public
252	252	health division of the department of health to practice
253	253	licensed midwifery;
254	254	(c) an optometrist licensed pursuant to
255	255	the provisions of the Optometry Act;
256	256	(d) an osteopathic physician licensed
257	257	pursuant to the provisions of the Medical Practice Act;
258	258	(e) a physician licensed pursuant to the
259	259	provisions of the Medical Practice Act or a physician assistant
260	260	licensed pursuant to the provisions of the Physician Assistant
261	261	Act;
262	262	(f) a podiatric physician licensed
263	263	pursuant to the provisions of the Podiatry Act;
264	264	(g) a psychologist licensed pursuant to
265	265	the provisions of the Professional Psychologist Act;
266	266	(h) a registered nurse licensed pursuant
267	267	to the provisions of the Nursing Practice Act;
268	268	(i) a pharmacist licensed pursuant to
269	269	the provisions of the Pharmacy Act;
270	270	(j) a licensed clinical social worker or
271	271	a licensed independent social worker licensed pursuant to the
272	272	provisions of the Social Work Practice Act;
273	273	(k) a professional mental health
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302	302	counselor, a professional clinical mental health counselor, a
303	303	marriage and family therapist, an alcohol and drug abuse
304	304	counselor or a professional art therapist licensed pursuant to
305	305	the provisions of the Counseling and Therapy Practice Act;
306	306	[and]
307	307	(l) a physical therapist licensed
308	308	pursuant to the provisions of the Physical Therapy Act;
309	309	(m) a respiratory care practitioner
310	310	licensed pursuant to the Respiratory Care Act; and
311	311	(n) a polysomnographic technologist
312	312	licensed pursuant to the Polysomnography Practice Act;
313	313	(2) "health care underserved area" means a
314	314	geographic area or practice location in which it has been
315	315	determined by the department of health, through the use of
316	316	indices and other standards set by the department of health,
317	317	that sufficient health care services are not being provided;
318	318	(3) "practice site" means a private practice,
319	319	public health clinic, hospital, public or private nonprofit
320	320	primary care clinic or other health care service location in a
321	321	health care underserved area; and
322	322	(4) "rural" means a rural county or an
323	323	unincorporated area of a partially rural county, as designated
324	324	by the health resources and services administration of the
325	325	United States department of health and human services."
326	326	SECTION 2. APPLICABILITY.--The provisions of this act
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355	355	apply to taxable years beginning on or after January 1, 2025.
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