New Mexico legislation · 2026 Regular Session
New Mexico SB113: AGRICULTURAL BIOMASS TAX CREDIT AMOUNTS
Status: In committee, January 26, 2026
What the bill says
An act relating to taxation; increasing the amount of an agricultural biomass income tax credit and an agricultural biomass corporate income tax credit.
From the introduced text, January 23, 2026:
AN ACT RELATING TO TAXATION; INCREASING THE AMOUNT OF AN AGRICULTURAL BIOMASS INCOME TAX CREDIT AND AN AGRICULTURAL BIOMASS CORPORATE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-2-18.26 NMSA 1978 (being Laws 2010, Chapter 84, Section 1, as amended) is amended to read: "7-2-18.26. AGRICULTURAL BIOMASS INCOME TAX CREDIT.-- A. A taxpayer who owns a dairy or feedlot and who files an individual New Mexico income tax return for a taxable year ending prior to January 1, 2030, may claim, and the department may allow, a tax credit equal to [five dollars ($5.00)] ten dollars ($10.00) per wet ton of agricultural biomass transported from the taxpayer's dairy or feedlot to a facility that uses agricultural biomass to generate electricity .233228.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ or make biocrude or other liquid or gaseous fuel for commercial use. The tax credit created in this section may be referred to as the "agricultural biomass income tax credit". B. Subject to the limitations pursuant to Subsection D of this section, a taxpayer shall apply for certification of eligibility for the agricultural biomass income tax credit from the energy, minerals and natural resources department on forms and in the manner prescribed by that department. Completed applications shall be considered in …
Sponsors
- Antonio Maestas (D, 26) · primary sponsor
Latest actions
- : SCC: Reported by committee to fall within the purview of a 30 day session
- : Sent to SCC - Referrals: SCC/STBTC/SFC
- : Action Postponed Indefinitely
Subjects: AGRICULTURE, TAXATION, INCOME
Common questions
- What is SB113?
- SB113 is a bill in the New Mexico Legislature (2026 Regular Session): AGRICULTURAL BIOMASS TAX CREDIT AMOUNTS.
- What does SB113 do?
- In its own words: An act relating to taxation; increasing the amount of an agricultural biomass income tax credit and an agricultural biomass corporate income tax credit.
- What is the status of SB113?
- In committee as of January 26, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (January 26, 2026).
- Who sponsored SB113?
- Antonio Maestas (D, 26).
- Where is the official record for SB113?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=113&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.