New Mexico bill offers $6,000 tax credit on rooftop solar
SANTA FE, N.M. (AP) — New Mexico would provide a $6,000 credit against taxes for households, small business and farms that install rooftop solar energy systems under a bill introduced Tuesday.
The proposal from Democratic Sen. Mimi Stewart of Albuquerque would set aside up to $10 million a year for the credits.
The credit can be carried over the course of up to five years for applicants with small annual tax liabilities.
In a statement, Democratic Gov. Michelle Lujan Grisham endorsed the tax break as a way to create more jobs in the clean-power sector and addressing climate change concerns.
The governor’s Republican predecessor blocked a similar measure approved by the Legislature last year. Republican legislators derided that bill as a tax break for the affluent.