A. A taxpayer may claim a deduction from net income in an amount not to exceed ten thousand dollars ($10,000) of organ donation-related expenses, including lost wages, lodging expenses and travel expenses, incurred during the taxable year by the taxpayer or the taxpayer's dependent as a result of the taxpayer's or dependent's donation of a human organ to another person for transfer of that human organ to the body of another person.
B. A husband and wife who file separate returns for a taxable year in which they could have filed a joint return may each claim only one-half of the deduction provided by this section that would have been allowed on a joint return.
C. For the purposes of this section:
(1) "dependent" means "dependent" as defined by Section 152 of the Internal Revenue Code, as that section may be amended or renumbered; and
(2) "human organ" means all or part of a heart, liver, pancreas, kidney, intestine, lung or bone marrow.
History: Laws 2005, ch. 113, § 1.
Cross references. — For the Internal Revenue Code, see 26 U.S.C. Sections 1 et seq.
Effective dates. — Laws 2005, ch. 113 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
Applicability. — Laws 2005, ch. 113, § 2 provided that Laws 2005, ch. 113 , § 1 apply to taxable years beginning on or after January 1, 2005.
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