SENATE BILL 234

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Carroll H. Leavell

AN ACT

RELATING TO TAXATION; AMENDING A SECTION OF THE GROSS RECEIPTS AND COMPENSATING TAX ACT TO PROVIDE FOR GROSS RECEIPTS TAX DEDUCTIONS FOR LEASES OF SOLAR ENERGY SYSTEMS AND THOSE SOLD OR SUPPLIED TO A PUBLIC UTILITY.

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 or is supplied or sold to a public utility 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."

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