New Mexico Governor Signs Law Amending Advanced Energy Tax Credits

The New Mexico Governor signed a law that amends the definition of “advanced energy product” in both the Advanced Energy Equipment Income Tax Credit and the Advanced Energy Equipment Corporate Income Tax Credit. The law maintains the tax credit structure allowing taxpayers to claim up to 20 percent of qualified expenditures (capped at $25 million) for manufacturing facilities producing advanced energy products, with certification required from the energy, minerals and natural resources department. The law applies to taxable years beginning on or after Jan. 1, 2026. [H.B. 154, enacted 03/03/26]

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