Technology Readiness Grt Credit

Where it is in the process

Plain-English Summary

This bill extends the "technology readiness gross receipts tax credit" in New Mexico from July 1, 2027, to July 1, 2035. It also increases the maximum annual credit amount that national laboratories can claim for helping businesses develop their technologies, rising from $2 million in 2026 to $5 million by 2029. This credit aims to boost economic development by assisting New Mexico businesses in maturing technologies developed at national laboratories.

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