44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

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

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 in one's private residence may be deducted from gross receipts if the person providing the services is in compliance with the rules of the children, youth and families department governing family child care homes."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 1999.