EXPAND RURAL HEALTH CARE TAX CREDIT

SB 424 expands New Mexico's rural health care practitioner tax credit to include respiratory care practitioners and polysomnographic technologists. Eligible professionals in these fields can claim a tax credit of up to $3,000 per year (or $1,500 for those working 792-1,583 hours) if they provide services in designated rural health care underserved areas. To qualify, they must apply to the New Mexico Department of Health for a certificate, which they then submit with their state income tax return. The credit applies to tax years beginning January 1, 2025, and mirrors existing provisions for other health care professionals like nurses and therapists.