Bill > SB279

This bill establishes a new tax credit, known as the "new sustainable building tax credit," for individuals and businesses filing income tax returns in New Mexico. This credit aims to incentivize the construction of new sustainable buildings, the renovation of existing buildings into sustainable ones, or the permanent installation of manufactured housing that meets sustainable building standards, regardless of where the housing was manufactured. Importantly, this credit cannot be claimed for the same building if a similar credit has already been claimed under the Corporate Income and Franchise Tax Act.