MILD
SB 239
CULTURAL PROPERTY PRESERVATION TAX CREDIT
- Legislative URL:
- SB 239 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- N/A
- Location:
- - OTHER -
- Action:
- [2] SCORC/SFC-SCORC [34] w/o rec/a-SFC API.
- Issue(s):
- Land Use & Growth
Companion Bills
Related Legislators
- Bill Sponsor:
- Pete Campos
Related Documents
- Downloads:
-
Introduced
SCORC Committee Report
Fiscal Impact Report
Summary
This measure amends the credit for the Preservation of Cultural Property Tax Credit, which applies to both personal and corporate income taxes, to provide that the currently existing higher level of credit ($50,000) is available for the restoration, rehabilitation and preservation of properties registered in the State Register of Cultural Properties that are also eligible properties subject to the Main Street Act or that the Main Street Revolving Loan Committee finds merit preservation pursuant to the Main Street Revolving Loan Act. The Main Street Act can be found at Sections 3-60B-1 through 4 NMSA 1978.
This bill is a companion to House Bill 298.
Date of Summary: 1/24/2013