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Panel approves bill decoupling state advanced-energy credit from federal law and adding fusion
Summary
A House committee backed HB154 to remove dependence on IRS definitions for New Mexico's advanced energy equipment tax credit and to add fusion machines to the state definition; sponsors said the change preserves the existing $25 million annual cap and aims to attract manufacturing investment.
A House committee voted to advance House Bill 154 after sponsors and state economic officials said the bill would give New Mexico 'certainty' in its advanced-energy manufacturing incentive by replacing a federal tether with a state definition and by explicitly adding fusion machines.
Representative Hernandez presented HB154, saying the current state credit is linked to federal IRS definitions (noted in the bill as "section 45x"), which change over time and can make…
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