This bill amends Section 7-9-93 of the New Mexico Gross Receipts Tax Act to extend the sunset date for a gross receipts tax deduction for health care practitioners from 2028 to 2031. Additionally, it expands the scope of the deduction to include receipts from coinsurance, copayments, or deductibles paid by insured individuals or enrollees to health care practitioners for commercial contract services, provided these services fall within the practitioner's scope of practice.

The bill also clarifies definitions related to health care practitioners and services, including the definition of "association of health care practitioners," which now encompasses various legal entities organized by health care practitioners, excluding certain exempt organizations and facilities. Furthermore, it specifies that the deductions must be reported separately by taxpayers and included in the tax expenditure budget for analysis. The effective date for the provisions of this act is set for July 1, 2026.

Statutes affected:
introduced version: 7-9-93