HB 163: HOME ENERGY & WATER EFFICIENCY TAX CREDIT

An Act Relating To Taxation; Creating The Home Energy And Water Efficiency Income Tax Credit.

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MILD HB 163
HOME ENERGY & WATER EFFICIENCY TAX CREDIT

Legislative URL:

HB 163 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

HWMC

Action:

HPREF [1] HEENC/HWMC-HEENC [5] DP-HWMC API.

Issue(s):

Energy

Related Legislators

Bill Sponsor:

Carl Trujillo

Related Documents

Downloads:

Introduced
HEENC Committee Report
Fiscal Impact Report

Summary

This bill provides, prior to 2022, a one-time “home energy and water efficiency income tax credit” of as much as $4,000 for qualifying improvements to the energy or indoor water use efficiency of the taxpayer’s primary residence. The credit is subject to a maximum annual aggregate of $1,000,000 in 2017-2019, and $2,000,000 in 2020-2022.

A possible benefit of this bill might be that the income tax credit may help to encourage residential indoor energy and water efficiency.