NM HB143

Rural health care practitioner tax credit increases from $5,000 to $15,000 for physicians, dentists, psychologists, podiatric physicians, and optometrists practicing at least 1,584 hours annually in underserved areas, and from $3,000 to $9,000 for other eligible practitioners including nurses, pharmacists, and therapists

New physician income tax credit of $50,000 annually for up to five consecutive years for physicians who completed medical residency and practice full-time in New Mexico while repaying student loans

Medical Residency Loan Repayment Act creates a fund with $3,000,000 appropriation to repay student loans for medical residents and fellows who commit to practicing as physicians in New Mexico for five consecutive years

Medical malpractice damage cap set at $600,000 per occurrence for all claims (excluding punitive damages and medical care benefits), with health care provider personal liability reduced from $250,000 to $200,000

Attorney contingency fees in malpractice claims limited to sliding scale: 30% of first $250,000 recovered, 25% of $250,001-$500,000, 20% of $500,001-$1,000,000, and 15% of amounts over $1,000,000