TECH "QUALIFIED EXPENDITURE"

Summary

The bill changes the definition of “qualified expenditure” in New Mexico’s Technology Jobs and Research and Development Tax Credit Act so that costs for property owned by a municipality or county under an industrial revenue bond can be claimed for the credit. It affects businesses that claim the credit and local governments that issue such bonds, potentially expanding the credit’s reach and encouraging more tech‑related projects on publicly‑owned sites.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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