New Mexico legislation · 2026 Regular Session
New Mexico HB154: ADVANCED ENERGY PRODUCT DEFINITION
Status: Signed into law, March 3, 2026
What the bill says
An act relating to taxation; amending the definition of "advanced energy product" in the advanced energy equipment income tax credit and the advanced energy equipment corporate income tax credit.
From the enrolled text, March 4, 2026:
AN ACT RELATING TO TAXATION; AMENDING THE DEFINITION OF "ADVANCED ENERGY PRODUCT" IN THE ADVANCED ENERGY EQUIPMENT INCOME TAX CREDIT AND THE ADVANCED ENERGY EQUIPMENT CORPORATE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-2-18.39 NMSA 1978 (being Laws 2024, Chapter 67, Section 35) is amended to read: "7-2-18.39. ADVANCED ENERGY EQUIPMENT INCOME TAX CREDIT.-- A. The tax credit provided by this section may be referred to as the "advanced energy equipment income tax credit". A taxpayer who is not a dependent of another individual, who makes qualified expenditures for a qualified manufacturing facility located in New Mexico and who files an individual New Mexico income tax return for a taxable year beginning on or after January 1, 2025, and prior to January 1, 2033, may claim the tax credit in the amount provided in Subsection B of this section. B. The amount of the tax credit shall be in an amount equal to the lesser of twenty percent of the amount of the qualified expenditures made by the taxpayer for a qualified manufacturing facility or twenty-five million dollars ($25,000,000). HB Page C. Prior to incurring a qualified expenditure, a taxpayer shall apply for preliminary certification of eligibility for the tax credit from the energy, minerals and natural resources department …
Sponsors
- Meredith A. Dixon (D, HD-020) · primary sponsor
- Linda Serrato (D, HD-045)
- Joshua N. Hernandez (R, HD-060)
- Nicole Tobiassen (R, SD-021)
Latest actions
- : Signed by Governor - Chapter 17 - Mar. 3
- : Passed in the Senate - Y:36 N:6
- : STBTC: Reported by committee with Do Pass recommendation
- : Sent to STBTC - Referrals: STBTC
- : Passed in the House of Representatives - Y:59 N:5
- : HTRC: Reported by committee with Do Pass recommendation
- : HENRC: Reported by committee with Do Pass recommendation
- : Sent to HENRC - Referrals: HENRC/HTRC
Votes
- Senate Floor Vote (February 17, 2026): 36 yea, 6 nay, passed
- House Floor Vote (February 11, 2026): 59 yea, 5 nay, passed
Subjects: ENERGY & NATURAL RESOURCES, TAXATION, INCOME
Common questions
- What is HB154?
- HB154 is a bill in the New Mexico Legislature (2026 Regular Session): ADVANCED ENERGY PRODUCT DEFINITION.
- What does HB154 do?
- In its own words: An act relating to taxation; amending the definition of "advanced energy product" in the advanced energy equipment income tax credit and the advanced energy equipment corporate income tax credit.
- What is the status of HB154?
- Signed into law as of March 3, 2026. Latest action: Signed by Governor - Chapter 17 - Mar. 3 (March 3, 2026).
- Who sponsored HB154?
- Meredith A. Dixon (D, HD-020), with 3 co-sponsors.
- Where is the official record for HB154?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=154&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.