HOUSE BILL 252

49th legislature - STATE OF NEW MEXICO - second session, 2010

INTRODUCED BY

Nick L. Salazar

AN ACT

RELATING TO TAXATION; CLARIFYING THAT RECEIPTS FROM LEASES OF SOLAR ENERGY SYSTEMS MAY BE DEDUCTED FROM GROSS RECEIPTS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 7-9-112 NMSA 1978 (being Laws 2007, Chapter 204, Section 10) is amended to read:

     "7-9-112. DEDUCTION--GROSS RECEIPTS--SOLAR ENERGY SYSTEMS.--

          A. Receipts from the sale, [and] lease or installation of solar energy systems may be deducted from gross receipts.

          B. As used in this section, "solar energy system" means an installation that is used to provide space heat, hot water or electricity to the property in which it is installed and is:

                (1) an installation that utilizes solar panels that are not also windows, including the solar panels and all equipment necessary for the installation and operation of the solar panels;

                (2) a dark-colored water tank exposed to sunlight, including all equipment necessary for the installation and operation of the water tank as a part of the overall water system of the property; or

                (3) a non-vented trombe wall, including all equipment necessary for the installation and operation of the trombe wall."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2010.

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