TAXPAYER INCOME DISTRIBUTIONS

HB 184 would provide an annual $1,000 cash payment to New Mexico residents who filed an individual income tax return (or requested an extension) for the previous year. The Department of Finance and Administration would distribute these payments by April 15 each year, with married couples filing jointly receiving $1,000 per spouse. A "resident" is defined as someone domiciled in New Mexico during the year or physically present for at least 185 days, excluding those who changed their abode with intent to leave permanently. This direct payment program affects individual taxpayers who meet the residency and filing requirements, funded from the state general fund.