Bill > HB145

This bill extends the eligibility period for the High-Wage Jobs Tax Credit, a program designed to incentivize businesses to create new, well-paying jobs in New Mexico. Specifically, it amends the existing law to allow new high-wage jobs created on or after July 1, 2004, and *before* July 1, 2036, to qualify for the credit, extending the previous deadline of July 1, 2026. The credit is calculated as a percentage of wages paid to eligible employees in these new jobs, with caps on the total credit per job per qualifying period. The bill also clarifies various definitions and requirements related to what constitutes a "new high-wage job," an "eligible employer," and the application process for claiming the credit, ensuring that businesses meet specific wage, occupancy, and residency criteria to benefit from this tax incentive.

Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=145&year=26