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NM HB106

Bill

Official Source

Status

Introduced

1/20/2026

Primary Sponsor

Mark Duncan

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Creates a $1,000 per month income tax credit for taxpayers who care for dependent children at home instead of enrolling them in state-funded or private child care facilities or pre-kindergarten programs
  • Applies to dependent children age five or younger who are not yet eligible for public school enrollment
  • Credit is fully refundable, meaning taxpayers receive the excess amount if the credit exceeds their tax liability
  • Requires taxpayers to obtain certification of eligibility from the Early Childhood Education and Care Department before claiming the credit
  • Credit amount will be adjusted annually for inflation beginning in tax year 2027, with the base year set at 2025; applies to taxable years beginning January 1, 2026

Legislative Description

Home-based Child Care Income Tax Credit

Last Action

Sent to HCEDC - Referrals: HCEDC/HTRC

1/22/2026

Committee Referrals

Commerce & Economic Development1/22/2026

Full Bill Text

No bill text available