Bill > SB40

This bill extends the geothermal ground-coupled heat pump tax credits under the Income Tax Act and the Corporate Income and Franchise Tax Act until 2034, increases the annual aggregate caps for the credits to $16 million, makes the credit under the Income Tax Act refundable, and amends the definition of "geothermal ground-coupled heat pump" to require installation by a nationally accredited ground source heat pump installer. The bill also prohibits taxpayers from claiming both the 2021 sustainable building tax credit and the geothermal ground-coupled heat pump tax credit for the same heat pump system.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=40&year=24