SANTA FE — Now that Gov. Lujan Grisham has signed omnibus tax package for 2024 into law, the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) is preparing to accept a new wave of applications for its Solar Market Development Tax Credit Program.
The 2024 tax omnibus, House Bill 252, contains provisions that make the existing solar tax credit available to more New Mexicans.
Those provisions include:
- Raising the annual cap on the total amount of credits that can be issued to $30 million per tax year.
- Ensuring that tribal members who hold property in leasehold are eligible