summary
Introduced
02/01/2021
02/01/2021
In Committee
02/17/2021
02/17/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; REMOVING A REQUIREMENT TO INSTALL SOLAR ENERGY SYSTEMS ON THE PROPERTY FOR WHICH THE SYSTEM PROVIDES HEAT, HOT WATER OR ELECTRICITY TO BE ELIGIBLE FOR A GROSS RECEIPTS TAX DEDUCTION; ADDING A SUNSET DATE AND REPORTING REQUIREMENTS.
AI Summary
This bill removes the requirement that a solar energy system must be installed on the property for which it provides heat, hot water, or electricity in order to be eligible for a gross receipts tax deduction. It also adds a sunset date of July 1, 2030 for the deduction and requires the taxation department to report annually on the number of taxpayers claiming the deduction, the aggregate amount claimed, and an analysis of the cost of the deduction. The bill defines a "solar energy system" to include solar panels, dark-colored water tanks, and non-vented trombe walls, along with the necessary equipment for installation and operation.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (1)
Last Action
Senate Tax, Business and Transportation Committee (00:00 3/2/2021 Room zoom) (on 03/02/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=243&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0243.pdf |
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