HB 296: SOLAR ENERGY INSTALLATION LEASE TAX CREDIT

An Act Relating To Taxation; Allowing A Tax Credit For Lease Of Solar Energy Installations.

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MILD HB 296
SOLAR ENERGY INSTALLATION LEASE TAX CREDIT

Legislative URL:

HB 296 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

Vetoed

Action:

[5] HEENC/HWMC/HAFC-HEENC [9] DP-HWMC [16] HAFC ref w/drn- HWMC [21] DP [27] fl/a- PASSED/H (63-0)- SCONC/SCORC/SFC-SCONC [30] DP-SCORC [39] DP-SFC [41] w/drn [48] PASSED/S (35-6) VETO.

Issue(s):

Energy

Related Legislators

Bill Sponsor:

Sarah Maestas Barnes

Related Documents

Downloads:

Introduced
HEENC Committee Report
HWMC Committee Report
House Floor Amendment
Final House Vote
SCONC Committee Report
SCORC Committee Report
Final Senate Vote
Fiscal Impact Report
Final Version
Governor's Message

Summary

This bill makes the Solar Market Development Tax Credit available to a taxpayer who leases (in addition to a taxpayer who purchases) and installs a solar thermal system or a photovoltaic system in a residence, business or agricultural enterprise in New Mexico before December 31, 2016.

On March 3rd HB 296 was amended on the House Floor to specify that to qualify for the credit a solar thermal or photovoltaic system must be “new and unused by a prior owner or lessee.”

A possible benefit of this bill might be further encouragement of installation of new solar thermal and photovoltaic systems with corresponding decreases in residential and business dependence on non-renewable energy.