HOUSE BILL 872

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Danice Picraux

AN ACT

RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS RECEIPTS FOR RECEIPTS FROM PROVIDING CHILD DAYCARE SERVICES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

     "[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS TAX--CHILD DAYCARE SERVICES.--Receipts from providing child daycare services may be deducted from gross receipts that are received from the fees paid to the child daycare provider for providing child daycare services."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2007.

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