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Committee approves amended railroad infrastructure income tax credit bill
House Commerce and Economic Development Committee, House of Representatives · February 9, 2026
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Summary
The committee voted unanimously 10–0 to pass an amended HB298 establishing a 50% state income tax credit to maintain or replace short‑line railroad track (limited to $5,000 per mile) and reduced program cap from $6 million to $1 million.
A House Commerce committee approved an amended HB298 to create a New Mexico Railroad Infrastructure Income Tax Credit aimed at short‑line rail maintenance and replacement.
Under the amendment described to the committee, the bill provides a 50% state income tax credit on costs to maintain or replace…
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