solar energy tax credit

Solar tax credit flies through Senate committee
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A day after the House version of the legislation narrowly passed a committee, an identical bill to extend the state’s solar tax credit had a much more comfortable reception in the Senate. The Senate Conservation Committee passed the bill on an 8-1 vote. The opposition to the legislation did not stem from the merits of the bill itself, but rather concerns about using tax credits at all. The legislation is the same as what passed last year, and Sen. Mimi Stewart, D-Albuquerque, described it as a compromise with the House Ways and Means Committee. The compromise is from a “step-down” which would lower the tax credit as years go on, from the current ten percent down to 5 percent after eight years.