summary
Introduced
01/17/2017
01/17/2017
In Committee
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; EXTENDING THE SOLAR MARKET DEVELOPMENT TAX CREDIT; INCREMENTALLY REDUCING THE AMOUNT OF THE CREDIT; COMBINING THE SOLAR THERMAL SYSTEMS AND PHOTOVOLTAIC SYSTEMS AGGREGATE CAPS INTO ONE AGGREGATE CAP.
AI Summary
This bill extends the Solar Market Development Tax Credit in New Mexico, which allows taxpayers to claim a credit for purchasing and installing solar thermal or photovoltaic systems in their residences, businesses, or agricultural enterprises. The bill incrementally reduces the amount of the credit over time, starting at 10% of system costs and decreasing to 5% by 2024. It also combines the separate caps for solar thermal and photovoltaic systems into a single $5 million annual aggregate cap. The bill aims to continue supporting the development of the solar energy market in New Mexico.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
[LD 1] HLEDC (on 01/17/2017)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=82&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0082.pdf |
Loading...