Sign Up
Issue · Environment

Environment (Agriculture)

Every environment bill, vote, and legislator stance in New Mexico, automatically classified by Maddy, our AI policy reader.

NM Legislature US Congress
Total bills
1
2026 Regular Session
Top supporter
-
no data yet
Top opponent
-
no data yet
Ranked legislators
0
0 support · 0 oppose
Showing 1 of 1 bills

All environment bills

in committee · New Mexico · Senate Mar 24, 2026

SB 113: AGRICULTURAL BIOMASS TAX CREDIT AMOUNTS

SB 113 increases New Mexico's agricultural biomass tax credit from $5 to $10 per wet ton for dairy and feedlot owners who transport biomass to facilities generating electricity or biocrude fuel. It directly affects dairy and feedlot operators by allowing them to claim this credit against state income or corporate taxes for eligible biomass transportation. The bill sets a $5 million annual cap on total credits, allows unused credits to carry forward up to four years, and permits credit transfers between taxpayers. This change applies to taxable years ending before January 1, 2030, and aims to incentivize renewable energy production from agricultural waste.
Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases agricultural tax credit from $5 to $10/ton, providing direct tax relief to dairy/feedlot operators and incentivizing biomass use, aligning with tax support indicators.95% confidence ✓ EnergySupports EnergyIncreases tax credit for biomass transported to facilities generating electricity/biocrude fuel, directly incentivizing renewable energy infrastructure development.95% confidence ✓ EnvironmentSupports EnvironmentPromotes biomass energy for clean electricity/biocrude, aligning with environmental protection via tax incentives for renewable energy use.90% confidence
Sub-Topics Business Taxes Tax Credits Renewable Energy Tags Agriculture