HB 304: RENEWABLE ENERGY TAX CREDIT ELIGIBILITY

An Act Relating To Utilities; Increasing The Amount Of Electricity That May Be Produced By Qualified Energy Generators That Will Be Eligible For The Renewable Energy Production Tax Credit; Extending The Date That A Qualified Energy Generator Must First Produce Electricity To Qualify For The Renewable Energy Production Tax Credit; Clarifying The Period For Which A Taxpayer May Claim The Renewable Energy Production Tax Credit.

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MILD HB 304
RENEWABLE ENERGY TAX CREDIT ELIGIBILITY

Legislative URL:

HB 304 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

HTRC

Action:

[10] not prntd-HRC [11] w/drn - prntd- ref HBIC/HTRC-HBIC [13] DNP-CS/DP-HTRC API.

Issue(s):

Energy

Related Legislators

Bill Sponsor:

Cathrynn Brown

Related Documents

Downloads:

Introduced
HBIC Committee Report
HBIC Committee Substitute
Fiscal Impact Report

Summary

This piece of legislation amends the Renewable Energy Production Tax Credit by increasing the amount of electricity that may be produced by all qualified energy generators and extending the date that a qualified energy generator must first produce electricity to qualify for the credit to 2021. The credit is a personal and corporate income tax credit.

This amendments made by this bill may have the positive effect of encouraging and increase in the production of renewable energy.

This bill is almost identical to SB 191 and HB 233 but extends the date to 2020 rather than 2021 and does not raise the solar cap to 1 million as the other two do.

Date of Summary:  2/7/2014

The HBIC Committee Substitute bill brings this bill into line with HB 233 and SB 191, all of which are now identical.

Date of Revised Summary:  2/16/14

Outcome:

HB 304 died in the House Taxation and Revenue Committee.

Updated 7/31/14