New Mexico legislation · 2026 Regular Session
New Mexico HB221: ARMED FORCES RETIREMENT PAY TAX EXEMPTION
Status: Introduced, February 4, 2026
What the bill says
An act relating to taxation; removing the limitation on the amount of the income tax exemption for armed forces retirement pay.
From the introduced text, January 29, 2026:
AN ACT RELATING TO TAXATION; REMOVING THE LIMITATION ON THE AMOUNT OF THE INCOME TAX EXEMPTION FOR ARMED FORCES RETIREMENT PAY. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-2-5.13 NMSA 1978 (being Laws 2022, Chapter 47, Section 6, as amended) is amended to read: "7-2-5.13. EXEMPTION--ARMED FORCES RETIREMENT PAY.-- A. An individual who is an armed forces retiree or the surviving spouse of an armed forces retiree may claim an exemption in [an amount equal to thirty thousand dollars ($30,000) of] the amount of the retiree's armed forces retirement pay includable, except for this exemption, in net income. B. As used in this section, "armed forces retiree" means a former member of the armed forces of the United States .233282.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ who has qualified by years of service or disability to separate from military service with lifetime benefits." SECTION 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2026. - 2 - .233282.1
Sponsors
- John Block (R, HD-051) · primary sponsor
- Stefani Lord (R, HD-022)
- Alan T. Martinez (R, HD-023)
- Jonathan A. Henry (R, HD-054)
- Jimmy G. Mason (R, HD-066)
- Cynthia Borrego (D, HD-017)
Latest actions
- : HLVMC: Reported by committee with Do Pass recommendation
- : Sent to HLVMC - Referrals: HLVMC/HTRC
- : Action Postponed Indefinitely
Subjects: TAXATION, INCOME, MILITARY AFFAIRS (national guard, vets)
Common questions
- What is HB221?
- HB221 is a bill in the New Mexico Legislature (2026 Regular Session): ARMED FORCES RETIREMENT PAY TAX EXEMPTION.
- What does HB221 do?
- In its own words: An act relating to taxation; removing the limitation on the amount of the income tax exemption for armed forces retirement pay.
- What is the status of HB221?
- Introduced as of February 4, 2026. Latest action: HLVMC: Reported by committee with Do Pass recommendation (February 4, 2026).
- Who sponsored HB221?
- John Block (R, HD-051), with 5 co-sponsors.
- Where is the official record for HB221?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=221&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.