Bill > SB172

This bill extends the Technology Readiness Gross Receipts Tax Credit, which allows national laboratories in New Mexico to claim a tax credit against their gross receipts tax liability for providing assistance to businesses that have licensed technology from them or are part of a cooperative research and development agreement. This credit aims to help businesses mature their technologies developed at these national laboratories and boost economic development. The bill extends the availability of this credit from July 1, 2027, to July 1, 2035, and increases the annual aggregate amount of credits allowed per national laboratory, with specific tiered increases between 2026 and 2035. The bill also clarifies definitions for terms like "national laboratory" and "technology readiness assistance," and maintains requirements for businesses to certify the assistance's purpose and cost-effectiveness, and for national laboratories to report on their programs and their impact.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=172&year=26