As she stated in December (2022), New Mexico Governor Michelle Lujan Grisham supports another round of tax refunds in 2023 – citing continuing tough financial times for New Mexicans.
During the first week of this year’s 60-day New Mexico legislative session, the governor specifically endorsed Senate Bill 10 (“SB-10”) – Additional 2021 Income Tax Rebates, which was introduced on January 25, 2023. SB-10 may be viewed or downloaded HERE on the New Mexico Legislature’s website.
As currently drafted, SB-10 authorizes the issuance of a one-time $750 tax rebate to single filers or a one-time $1,500 tax rebate to joint tax filers, along with the same provisions as last summer’s rebates allowing persons who did not file a tax return for 2021 to complete a special application.
This round of rebates is projected to cost the State of New Mexico about $1-Billion of the approximately $3-Billion record revenues from the oil and gas industry.
KRQE News 13 (Albuquerque, NM) published a news report regarding SB-10 and Governor Lujan Grisham’s support for an additional round of tax rebates yesterday, which may be viewed HERE.
