Bill > HB187

This bill creates the "School Solar Income Tax Credit" in New Mexico. It allows taxpayers who purchase and install a photovoltaic (solar) system on school property to claim a tax credit worth 40% of the installation costs, up to a total aggregate amount of $204 million. The credit can be claimed for tax years prior to 2036 and the energy, minerals and natural resources department will certify the eligibility of the systems. Any unused credit amount can be refunded to the taxpayer, and the credit can be transferred to other taxpayers. The bill also requires the state to report annually on the use and cost of the tax credit.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=187&year=24