The assessment for any New Mexico medical insurance pool member pursuant to Section 59A-54-10 NMSA 1978 shall be allowed as a fifty percent credit on the tax return for that member and a seventy-five percent credit on the tax return for that member for the assessments attributable to pool policyholders that receive premiums, in whole or in part, through the federal Ryan White Comprehensive AIDS Resources Emergency Act of 1990, the Ted R. Montoya hemophilia program at the university of New Mexico health sciences center, the children's medical services bureau of the public health division of the department of health or other program receiving state funding or assistance. That portion of credit that exceeds a member's premium tax liability in the taxable period in which the credit is claimed shall not be refunded and shall not be carried forward to subsequent taxable periods. History: Laws 2018, ch. 57, § 6; 2023, ch. 85, § 22. ANNOTATIONSCross references. — For the federal Ryan White CARE Act, see 42 U.S.C.A. Sections 300ff-11 et seq. The 2023 amendment, effective July 1, 2023, provided that the portion of credit for assessments contributed to the New Mexico medical insurance pool ARE Act, see 42 U.S.C.A. Sections 300ff-11 et seq. The 2023 amendment, effective July 1, 2023, provided that the portion of credit for assessments contributed to the New Mexico medical insurance pool that exceeds a member's premium tax liability shall not be refunded and shall not be carried forward to subsequent taxable periods; and made certain technical amendments; after 'Ryan White', deleted 'CARE' and added 'Comprehensive AIDS Resources Emergency', after 'Act', added 'of 1990', and added 'That portion of credit that exceeds a member's premium tax liability in the taxable period in which the credit is claimed shall not be refunded and shall not be carried forward to subsequent taxable periods.'.
New Mexico Legal Code