New Mexico legislation · 2026 Regular Session
New Mexico SB172: TECHNOLOGY READINESS GRT CREDIT
Status: Passed one chamber, February 18, 2026
What the bill says
An act relating to taxation; extending the technology readiness gross receipts tax credit.
From the committee substitute text, February 13, 2026:
AN ACT RELATING TO TAXATION; EXTENDING THE TECHNOLOGY READINESS GROSS RECEIPTS TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-9-96.3 NMSA 1978 (being Laws 2020, Chapter 22, Section 1, as amended) is amended to read: "7-9-96.3. TECHNOLOGY READINESS GROSS RECEIPTS TAX CREDIT.-- A. Prior to July 1, [2027] 2036, a taxpayer that is a national laboratory that provides technology readiness assistance to a business that is registered to do business in New Mexico and has licensed a technology from the national laboratory or is a participant in a cooperative research and development agreement with the national laboratory may claim a tax credit against the taxpayer's gross receipts tax liability .233851.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ STBTC/SB imposed pursuant to the Gross Receipts and Compensating Tax Act, excluding any local option gross receipts tax liability. The tax credit provided by this section may be referred to as the "technology readiness gross receipts tax credit". B. The purpose of the technology readiness gross receipts tax credit is to help businesses in New Mexico achieve technology maturation of the businesses' technologies developed at New Mexico national laboratories and increase economic development in the state. C. The amount of a technology readiness gross receipts tax credit shall equal the amount of qualified …
Sponsors
- Roberto "Bobby" J. Gonzales (D, SD-006) · primary sponsor
- Michael Padilla (D, SD-014)
- Leo Jaramillo (D, SD-005)
Latest actions
- : Passed in the Senate - Y:37 N:1
- : SFC: Reported by committee with Do Pass recommendation
- : STBTC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution
- : SCC: Reported by committee to fall within the purview of a 30 day session
- : Sent to SCC - Referrals: SCC/STBTC/SFC
- : Action Postponed Indefinitely
Votes
- Senate Floor Vote (February 18, 2026): 37 yea, 1 nay, passed
Subjects: TAXATION, GROSS RECEIPTS & COMPENSATING
Common questions
- What is SB172?
- SB172 is a bill in the New Mexico Legislature (2026 Regular Session): TECHNOLOGY READINESS GRT CREDIT.
- What does SB172 do?
- In its own words: An act relating to taxation; extending the technology readiness gross receipts tax credit.
- What is the status of SB172?
- Passed one chamber as of February 18, 2026. Latest action: Passed in the Senate - Y:37 N:1 (February 18, 2026).
- Who sponsored SB172?
- Roberto "Bobby" J. Gonzales (D, SD-006), with 2 co-sponsors.
- Where is the official record for SB172?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=172&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.