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Committee tables bill to extend and expand technology-readiness tax credit after testimony from labs and startups
Summary
After extensive testimony from national labs, startups and economic-development groups, the House committee adopted a substitute delaying credit increases and then voted 5–3 to table House Bill 82, which would extend the Technology Readiness gross-receipts tax credit and raise per-lab limits from $1 million to $5 million.
Representative Sanchez told the House Taxation Committee that House Bill 82 would extend and expand New Mexico’s Technology Readiness gross receipts (TRGR) tax credit, a program that connects state businesses with national laboratory expertise. “What this bill does is this bill extends the current credit by 10 years to allow for continued access to the labs by New Mexico business,” Sanchez said, adding the measure increases per-lab annual limits from $1,000,000 to $5,000,000 and delays the start of incremental increases to hit the fiscal-year 2028 budget.
Experts from both national laboratories described the program’s role in…
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