Bill > HB82

This bill extends the Technology Readiness Gross Receipts Tax Credit, a tax credit available to national laboratories in New Mexico that provide assistance to businesses. This assistance helps businesses mature their technologies, which are either licensed from the national laboratory or developed through a cooperative research and development agreement, a formal partnership for specified research efforts. The bill extends the availability of this credit from July 1, 2027, to July 1, 2035, and also increases the annual aggregate amount of credits a national laboratory can claim, with escalating limits from $2 million in fiscal year 2027 up to $5 million by fiscal year 2030. The credit is intended to foster economic development by supporting the commercialization of technologies developed at these national laboratories.

Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=82&year=26