46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO TAXATION; ENACTING A SECTION OF THE INCOME TAX ACT TO PROVIDE A DEDUCTION FOR CERTAIN INCOME OF CERTIFIED ELEMENTARY AND SECONDARY SCHOOL TEACHERS.

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

Section 1. A new section of the Income Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTION--INCOME OF CERTIFIED TEACHERS.--

A. A person who files an individual New Mexico income tax return and who is a certified teacher may claim a deduction from net income in an amount equal to the total amount of income the person received from a school for teaching or providing other instructional services.

B. A husband and wife who file separate returns for a taxable year in which they could have filed a joint return may each claim only one-half of the deduction provided in this section.

C. As used in this section:

(1) "certified teacher" means a person who is employed by a school to teach or provide special instructional services and who has received a certificate from the state board of education authorizing the person to teach or provide special instructional services in the public schools of the state; and

(2) "school" means a public school or private school as those terms are defined in the Public School Code."

Section 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2003.