Skip Navigation

The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are! The U.S. Department of Energy and the North Carolina Solar Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in the summer of 2014. Staff are currently working hard on the new DSIRE and are unfortunately only able to make minimal updates to the DSIRE website at this time. We apologize for any inconvenience and thank you for using DSIRE.

US Department Energy Efficiency and Renewable Energy
IREC North Carolina Solar Center
Home Glossary Links FAQs Contact About Twitter    Facebook
New Mexico

New Mexico

Incentives/Policies for Renewables & Efficiency

Printable Version
Agricultural Biomass Income Tax Credit (Personal)   

Last DSIRE Review: 08/05/2014
Program Overview:
State: New Mexico
Incentive Type: Personal Tax Credit
Eligible Renewable/Other Technologies: Biomass
Applicable Sectors: Agricultural
Amount:$5 per wet ton
Equipment Requirements:The biomass must originate from a dairy or feedlot and be transported to a facility that uses agricultural biomass to generate electricity or make biocrude or other liquid or gaseous fuel for commercial use.
Carryover Provisions:Unused credit may be carried forward for up to 4 years.
Program Budget:Statewide annual limit of $5,000,000 in total credits
Start Date:01/01/2011
Expiration Date:12/31/2019
Web Site: http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/cleane...
Authority 1:
Date Enacted:
Date Effective:
Expiration Date:
N.M. Stat. ยง 7-2-18.26
03/08/2010
01/01/2011
12/31/2019
Summary:

H.B. 171 of 2010 created a tax credit for agricultural biomass from a dairy or feedlot transported to a facility that uses agricultural biomass to generate electricity or make biocrude or other liquid or gaseous fuel for commercial use. For the purposes of this tax credit, agricultural biomass means wet manure. The Energy, Minerals and Natural Resources Department may adopt additional specifications for agricultural biomass through a rule making process.

The credit is effective for biomass originating between January 1, 2011, and January 1, 2020. The credit is worth $5 per wet ton. Eligible projects must apply to the Taxation and Revenue Department for the credit. The Taxation and Revenue Department is authorized to distribute $5,000,000 in credits annually and will award a qualification document to eligible projects on a first-come, first-served basis. The qualification document may be submitted by the taxpayer with that taxpayer's personal income tax return or may be sold, exchanged, or otherwise transferred to another taxpayer. The taxpayers involved in a credit transfer must notify the Taxation and Revenue Department within 10 days of the sale, exchange, or transfer. If a tax payer cannot claim all the credit they have been awarded for the year, they may carry forward any unused credit for a maximum of 4 consecutive years.


 
Contact:
  Colin Messer
New Mexico Energy, Minerals and Natural Resources Department
Energy Conservation and Management Division
1220 S. St. Francis Drive
Santa Fe, NM 87505
Phone: (505) 476-3314
Fax: (505) 476-3322
E-Mail: ColinJ.Messer@state.nm.us
Web Site: http://www.emnrd.state.nm.us/ecmd/
 
  Information Specialist
New Mexico Taxation & Revenue Department
1100 South St. Francis Drive
Santa Fe, NM 87504
Phone: (505) 827-0700
Web Site: http://www.tax.newmexico.gov
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.