PHYSICIAN TAX CREDIT

Summary

The bill lets individual physicians who are not claimed as dependents on another's return claim a $4,000 credit on their New Mexico income tax if they provide at least 1,584 hours of health care in the state during the year. To receive the credit, doctors must first be certified by the Department of Health, and any portion of the credit that exceeds their tax liability can be carried forward for up to three years. The measure is intended to encourage doctors to practice in New Mexico, especially in underserved areas.

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