贵州11选5

New Mexico governor signs bill to extend biomass tax credit

By Erin Voegele | March 05, 2020

New Mexico Gov. Michelle Lujan Grisham signed a bill on March 4 that extends the state’s agricultural biomass income tax and corporate income tax credit for 10 years, through Jan. 1, 2030. The bill also adds reporting requirements for both the taxpayer receiving the credit and the New Mexico Taxation and Revenue Department.

The agricultural biomass income tax credit was first created by the New Mexico legislature in 2010, according to 。 The credit is available for wet manure from a dairy or feedlot that is transported to a facility that uses agricultural biomass to generate electricity, make biocrude, or manufacture other liquid or gaseous fuel for commercial use。 The credit was originally put in place through the end of 2020 and is worth $5 per wet ton。 Up to $5 million in credits was made eligible for each year, with the credits awarded on a first-come, first-served basis。

A bill to extend the credit was introduced on Jan. 23. That legislation, H.B. 146, passed the New Mexico House of Representatives by a vote of 67 to zero on Feb. 12. It passed the state’s Senate on Feb. 19 by a vote of 40 to zero. Gov. Lujan Grisham signed the bill on March 4.

As a result, the credit has been extended through Jan. 1, 2030. Both the value of the credit and the $5 million per year cap are maintained in the extension.

The bill also requires the Taxation and Revenue Department compile an annual report on the agricultural biomass income tax credit. The report is to include the number of taxpayers approved by the department to receive the credit, the aggregate amount of credits approved, and any other information necessary to evaluate the credit. The department is directed to present the report to certain congressional committees, along with an analysis of the cost of the tax credit.

A full copy of H。B。 146 is available on the New Mexico Legislature 。

 

 
 
 
上海11选5走势 贵州11选5开奖 贵州11选5投注 陕西快乐十分走势图 贵州快3 贵州11选5投注 重庆百变王牌 陕西11选5 江苏快3走势图 重庆百变王牌开奖