Exemption; New Mexico national guard member premiums paid for group life insurance.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Income Tax General Provisions
  5. Exemption; New Mexico national guard member premiums paid for group life insurance.

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An individual who receives reimbursement from the service members' life insurance reimbursement fund may claim an exemption in the amount of that reimbursement, from income includable, except for this exemption, in net income.

History: Laws 2006, ch. 50, § 1.

ANNOTATIONS

Effective dates. — Laws 2006, ch. 50, § 3 made Laws 2006, ch. 50, § 1 effective March 2, 2006.

Applicability. — Laws 2006, ch. 50, § 2, effective March 2, 2006, provided that Laws 2006, ch. 50, § 1 applies to taxable years beginning on or after January 1, 2005.


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