2017 HB 440 Renewable Energy Tax Credit Changes

CVNM Position:

Support

Year:

2017

Sponsors:

Randal S. Crowder
George Dodge Jr.

Topics:

Energy & Climate Change

Legislative Info:

HB 440 on nmlegis.gov »

Description

This bill would have increased the amount of electricity that can be produced subject to the renewable energy tax credit, extended the date by which electricity must be generated to quality for the credit and included geothermal as a qualified energy source. It also would have decreased the amount of credit per kilowatt hour for certain tax years and limited the period for which the credit may be claimed to ten years. This was a utility focused tax credit, aimed at benefitting larger, production scale renewable energy projects.

Outcome

HB 440 died in the House Energy, Environment and Natural Resources Committee.