ALBUQUERQUE — Bipartisan efforts are making headway in the New Mexico House and Senate to reinstate a tax credit that spurred nearly a quarter billion dollars of investment in roof-top solar and related jobs before expiring last year.
A Senate panel today endorsed one of three identical bills that call for renewing the credit for an additional eight years. A House committee took similar action Monday.
The credit expired in 2016 despite attempts during the previous legislative session to extend the program. The chief concern last year was the $5 million it would cost the state annually to continue the program.
While lawmakers are still grappling with a budget crisis, supporters say the return on investment outweighs the cost and that the legislation should be seen as an economic development bill.
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation
To find out more about Facebook commenting please read the Conversation Guidelines and FAQs
Comments