On April 7, Governor Martinez signed H.B. 440, which amends provisions of the New Mexico state tax laws to provide for the deduction of to “advanced energy costs” from gross receipts. The purpose of the measure is “to encourage the construction and development of qualified generating facilities in New Mexico and to sequester or control carbon emissions.” H.B. 440, Sec. 1, 2011 (Amended NMSA 7-9-114.B). “Qualified generating facility” is defined as a solar facility, geothermal generating plant, a facility that converts heat from stacks to energy and a new or repowered coal-based generation facility and associated coal gasification facility. that begins construction not later than December 31, 2015 . For a clao facility to qualify, it must emit the lesser of emissions achievable through best available control technology or .035 Lb./MM Btu of SO2, .025 lb/MM Btu of NOx, and .01 lb./MM Btu of total PM. H.B. 440, Sec. 1, 2011 (Amended NMSA 7-9-114.L). The bill becomes effective July 1, 2011.
