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Regional News: Bill proposes tax credit for people recently moved to New Mexico

Posted by   /  January 30, 2020  /  No Comments

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By Rachel Knapp | KRQE TV

A state lawmaker wants to give a unique welcome gift to people who just moved to New Mexico – a credit on their taxes.

Republican Senator James White said he wants to put more money back into people’s pockets and thinks his bill will make it happen.

“If you filed an income tax return you’re eligible to get a rebate, the rebate should be automatic the way the bill is designed,” said Sen. White (R) Albuquerque. “And if your tax return shows up and your income is in the right category, then you’ll get a return.”

Senate Bill 82

In Senate Bill 82, Senator White is pushing for anyone who moved to New Mexico between January 2019 and December 2019 who is filing as a single and making less than $50,000 dollars to get an extra $50. Married taxpayers filing jointly could pocket $100 if they’re also making less than $50,000, and if taxpayers have dependents, they could get $50 back per dependent.

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