NMSA 1978, § 7-40-6 — Credit; medical insurance pool assessments

The assessment for any New Mexico medical insurance pool member pursuant to
Section 59A-54-10 NMSA 1978 shall be allowed as a fifty percent credit on the tax
return for that member and a seventy-five percent credit on the tax return for that
member for the assessments attributable to pool policyholders that receive premiums, in
whole or in part, through the federal Ryan White Comprehensive AIDS Resources
Emergency Act of 1990, the Ted R. Montoya hemophilia program at the university of
New Mexico health sciences center, the children's medical services bureau of the public
health division of the department of health or other program receiving state funding or
assistance. That portion of credit that exceeds a member's premium tax liability in the
taxable period in which the credit is claimed shall not be refunded and shall not be
carried forward to subsequent taxable periods.