By Dan Boyd, Albuquerque Journal
February 13, 2022

SANTA FE – New Mexicans with children would get an annual tax credit of up to $350 per child under a House bill that sparked debate – but not a vote – on Saturday.

The proposed new income tax credit, House Bill 213, could end up being included in a tax package that’s still being crafted by lawmakers in the final days of this year’s 30-day legislative session.

It would provide a tax credit that would vary in amount depending on a parent or legal guardian’s income levels.

For instance, a resident with less than $25,000 in total annual income would be eligible for a tax credit of $350 per child, while those making more than $350,000 annually could get a $50 credit for each child.

The tax credit would be refundable, meaning it could be applied to any tax liabilities incurred by an individual or family.

Read more at the Albuquerque Journal