MILD
SB 242
RENEWABLE ENERGY TAX CREDIT CHANGES
- Legislative URL:
- SB 242 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- N/A
- Location:
- SFC
- Action:
- [3] SCONC/SCORC/SFC-SCONC [5] DP-SCORC [15] DNP-CS/w/o rec-SFC API.
- Issue(s):
- Energy
Companion Bills
Related Legislators
- Bill Sponsor:
- Phil Griego
Related Documents
- Downloads:
-
Introduced
SCONC Committee Report
SCORC Committee Substitute
SCORC Committee Report
Fiscal Impact Report
Summary
This bill adds a January 1, 2032 sunset provision to the Renewable Energy Production Tax Credit. It adds geothermal energy as qualified renewable energy source. It increases the amount of electricity that may be produced by qualified energy generators from 2-2.5 million megawatt hours up to 3-4 million megawatt hours. And it extends the date that a qualified energy generator must first produce electricity to qualify for the credit to 2021.
This amendments made by this bill may have the positive effect of encouraging and increase in the production of renewable energy.