Reported by CommitteeFiled Jan 29, 2026
Sponsor: Pettigrew, Randall T.
Latest Action
action postponed indefinitely
Mar 24, 2026
Summary
The bill would let New Mexico residents deduct a portion of out‑of‑pocket medical costs that aren’t covered by insurance, with the percentage varying by filing status and income. It applies to expenses for themselves, spouses, and dependents and is intended to help taxpayers of all income levels. The deduction would take effect for tax years beginning on or after Jan. 1, 2026.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
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