QUANTUM TESTING & EVALUATION GRT CREDIT

SB 212 creates a tax credit for New Mexico national laboratories that receive federal funds for quantum testing and evaluation services or quantum device fabrication, matching the federal funds dollar-for-dollar. The credit is capped at $15 million per year per laboratory and $60 million total across all laboratories, requiring certification from the Economic Development Department and claiming within one year of receiving federal funds. Unused credits can be carried forward for up to 60 years, and the credit expires July 1, 2035. The bill aims to support quantum industry growth in New Mexico by aligning state tax incentives with federal quantum initiatives.