New Mexico 2020 Regular Session Status: In Committee

HB 201 — ENERGY STORAGE SYSTEM TAX CREDIT CHANGES

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

295 added · 256 removed

Plain-language change summary

The recent changes to House Bill 201 include the addition of a section that clarifies the purpose of the bill and specifies that it creates an income tax credit for energy storage systems. This is important because it establishes financial incentives for energy storage, which can help support renewable energy initiatives in New Mexico. The bill also mandates annual reports from state departments to monitor the effectiveness of the tax credit, ensuring transparency and accountability in its implementation.

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HOUSE BILL 201 54 TH LEGISLATURE- STATE OF NEW MEXICO - SECOND SESSION , 2020 INTRODUCED BY Abbas Akhil 6 8 10 AN ACT RELATING TO ENERGY;
HOUSE BILL 201 54TH LEGISLATURE - STATEOFNEWMEXICO- SECOND SESSION , 2020 INTRODUCED BY Abbas Akhil This document incorporates amendments that have been adopted during the current legislative session.
CREATING THE ENERGY STORAGE SYSTEM INCOME TAX CREDIT;
The document is a tool to show the amendments in context and is not to be used for the purpose of amendments.
REQUIRING THE TAXATION AND REVENUE DEPARTMENT TO PROVIDE AN ANNUAL REPORT;
AN ACT RELATING TO ENERGY;
REQUIRING THE ENERGY, MINERALS AND NATURAL RESOURCES DEPARTMENT TO PROVIDE AN ANNUAL REPORT;
CREATING THE ENERGY STORAGE SYSTEM INCOME h TAX CREDIT;
PROVIDING A DELAYED REPEAL.
REQUIRING THE TAXATION AND REVENUE DEPARTMENT TO g o PROVIDE AN ANNUAL REPORT;
e t 17 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
REQUIRING THE ENERGY, MINERALS AND t hr g e i k NATURAL RESOURCES DEPARTMENT TO PROVIDE AN ANNUAL REPORT;
w l n d 18 SECTION 1.
h r i s PROVIDING A DELAYED REPEAL.
A new section of the Income Tax Act is enacted = = 19 to read:
h , t, e u g e b l e e h BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
a l i a e r 20 "[NEW MATERIAL] ENERGY STORAGE SYSTEM INCOME TAX CREDIT.-- a t m m 21 A.
n d d i = = o h SECTION 1.
For taxable years prior to January 1, 2026, a d r e 22 taxpayer who is not a dependent of another individual and who c e s k 23 purchases or installs an energy storage system on the e a n b 24 taxpayer's residential property may apply for, and the u [ department may allow, a credit against the taxpayer's tax .216012.4 liability imposed pursuant to the Income Tax Act subject to the provisions of Subsection C of this section.
A new section of the Income Tax Act is enacted l ] b ,d i a º e to read:
r i = r t e w d m a n o "[NEW MATERIAL ] ENERGY STORAGE SYSTEM INCOME TAX CREDIT.-- d m :
b e d s º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e e a n e d r e l u [ A d A.
For taxable years prior to January 1, HENRCº2026»HENRC HENRCº2023»HENRC, a taxpayer who is not a dependent of another individual and who purchases or installs an energy storage system on the taxpayer's residential property may apply for, and the department may allow, a credit against the taxpayer's tax liability imposed pursuant to the Income Tax Act subject to the provisions of Subsection C of this section.
No more than one purchase and installation of an energy storage system per property, per year, shall be eligible for the credit.
No more than one purchase and installation of an energy storage system per property HENRCº , per year,»HENRC shall be eligible for the credit.
(1) is installed in a residence that is served by a rural electric cooperative that uses time-of-use billing to charge for peak and off-peak electric power use;
(1) is installed in a residence that is served h by a rural electric cooperative that uses time-of-use billing g o t hr to charge for peak and off-peak electric power use;
(2) is installed for use with a new or existing photovoltaic system;
g e i k (2) is installed for use with a new or h r i s existing photovoltaic system;
(3) is designed to provide five to ten kilowatts of direct current;
h , t, (3) is designed to provide five to ten e u g e b l e e h kilowatts of direct current;
e e 17 (4) has a minimum of two hours of storage e e n d 18 capacity;
n d d i = = o h (4) has a minimum of two hours of storage l ] b ,d i a º e capacity;
= = l ] 19 (5) is certified by the energy, minerals and a l r i 20 natural resources department pursuant to rules promulgated t e a t pursuant to Subsection J of this section;
r i = r t e w d m a n o (5) is certified by the energy, minerals and d m :
and m m 21 e d r e 22 (6) is installed in a manner that meets the c e r c 23 permitting requirements established by local ordinance or state e a n b 24 law.
b e d s º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e - 2 - e a n e d r e l u [ A d natural resources department pursuant to rules promulgated pursuant to Subsection J of this section;
u [ D.
and (6) is installed in a manner that meets the permitting requirements established by local ordinance or state law.
The energy storage system income tax credit .216012.4 - 2 - shall not exceed the lesser of:
D.
The energy storage system income tax credit shall not exceed the lesser of:
The application shall include the certification made by the energy, minerals and natural resources department pursuant to Subsection J of this section.
The h application shall include the certification made by the energy, g o t hr minerals and natural resources department pursuant to g e i k Subsection J of this section.
F.
h r i s F.
The department shall allow a maximum annual aggregate of five hundred thousand dollars ($500,000) in energy storage system income tax credits per fiscal year.
The department shall allow a maximum annual h , t, aggregate of five hundred thousand dollars ($500,000) in energy e u g e b l e e h storage system income tax credits per fiscal year.
Completed e e 17 applications for the credit shall be considered in the order e e n d 18 received by the department.
Completed n d d i = = o h applications for the credit shall be considered in the order l ] b ,d i a º e received by the department.
If the maximum annual aggregate is = = l ] 19 met in a fiscal year, the department shall notify the energy, a l r i 20 minerals and natural resources department that no other energy t e a t storage systems may be eligible for a tax credit for that m m 21 e d r e 22 fiscal year.
If the maximum annual aggregate is r i = r t e w d m a n o met in a fiscal year, the department shall notify the energy, d m :
c e r c 23 G.
b e d s º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e - 3 - e a n e d r e l u [ A d minerals and natural resources department that no other energy storage systems may be eligible for a tax credit for that fiscal year.
That portion of an energy storage system income e a n b 24 tax credit that exceeds a taxpayer's income tax liability for u [ the taxable year in which the credit is claimed shall not be .216012.4 - 3 - refundable and shall not be carried forward to any other taxable year.
G.
That portion of an energy storage system income tax credit that exceeds a taxpayer's income tax liability for the taxable year in which the credit is claimed shall not be refundable and shall not be carried forward to any other taxable year.
A taxpayer may be allocated the right to claim an energy storage system income tax credit in proportion to the taxpayer's ownership interest if the taxpayer owns an interest in a business entity that is taxed for federal income tax purposes as a partnership or limited liability company and that business entity has met all of the requirements to be eligible for the credit.
A taxpayer may be allocated the right to claim an energy storage system income tax credit in proportion to the taxpayer's ownership interest if the taxpayer owns an interest h in a business entity that is taxed for federal income tax u » r purposes as a partnership or limited liability company and that t h g e l i business entity has met all of the requirements to be eligible h r i s for the credit.
The total credit claimed by all members of the partnership or limited liability company shall not exceed the allowable credit pursuant to Subsection D of this section.
The total credit claimed by all members of the h , e h partnership or limited liability company shall not exceed the t u g e b l e e , gh allowable credit pursuant to Subsection D of this section.
e e 17 J.
n d d i = = o h J.
The energy, minerals and natural resources e e n d 18 department shall adopt rules establishing procedures to provide = = l ] 19 certification of an energy storage system installed on a a l r i 20 taxpayer's property for purposes of obtaining an energy storage t e a t system income tax credit, including a process for providing m m 21 e d r e 22 notice to taxpayers if the maximum annual aggregate amount c e r c 23 pursuant to Subsection F of this section has been met.
The energy, minerals and natural resources l ] b ,d i a º r department shall adopt rules establishing procedures to provide e r = t e w d m a n o certification of an energy storage system installed on a d m :
e a n b 24 Completed applications for certification shall be considered in u [ the order received by the energy, minerals and natural .216012.4 - 4 - resources department.
b r e t º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e - 4 - e a n e d r e l u [ A d taxpayer's property for purposes of obtaining an energy storage system income tax credit, including a process for providing notice to taxpayers if the maximum annual aggregate amount pursuant to Subsection F of this section has been met.
Completed applications for certification shall be considered in the order received by the energy, minerals and natural resources department.
The department shall compile an annual report on the energy storage system income tax credit that shall include the number of taxpayers approved by the energy, minerals and natural resources department to receive the credit, the number and aggregate amount of credits approved and applied against income tax liability and any other information necessary to evaluate the credit.
The department shall compile an annual report on the energy storage system income tax credit that shall include the number of taxpayers approved by the energy, minerals and natural resources department to receive the credit, the number and aggregate amount of credits approved and applied against income tax liability and any other information necessary to h evaluate the credit.
The department shall present the annual report to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the cost of the tax credit.
The department shall present the annual u » r report to the revenue stabilization and tax policy committee t h g e l i and the legislative finance committee with an analysis of the h r i s cost of the tax credit.
M.
h , e h M.
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As used in this section, "energy storage system" means a system used to store electrical energy, or mechanical, e e 17 chemical or thermal energy that was once electrical energy, for e e n d 18 use as electrical energy at a later time or to displace energy = = l ] 19 at a later time." a l r i 20 SECTION 2.
As used in this section, "energy storage system" t u g e b l e e , gh means a HENRCº battery»HENRC system used to store electrical n d d i = = o h energy HENRCº, or mechanical, chemical or thermal energy that l ] b ,d i a º r was once electrical energy,»HENRC for use as electrical energy e r = t e w d m a n o at a later time or to displace energy at a later time." d m :
A new section of the Rural Electric t e a t Cooperative Act is enacted to read:
b r e t º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e - 5 - e a n e d r e l u [ A d SECTION 2.
m m 21 e d r e 22 "[NEW MATERIAL] ANNUAL REPORTS--EFFECTS OF ELECTRIC ENERGY c e r c 23 STORAGE SYSTEMS ON RURAL ELECTRIC COOPERATIVES--EFFECTS ON e a n b 24 STATEWIDE ELECTRIC SYSTEM.-- u [ A.
A new section of the Rural Electric Cooperative Act is enacted to read:
Beginning on January 1, 2021 and on each .216012.4 - 5 - subsequent January 1 thereafter, a cooperative that uses time- of-use billing to charge for peak and off-peak electric power use shall report to the energy, minerals and natural resources department the number of energy storage units that have been installed at properties receiving residential electric power from the cooperative in the preceding calendar year.
"[NEW MATERIAL] ANNUAL REPORTS--EFFECTS OF ELECTRIC ENERGY STORAGE SYSTEMS ON RURAL ELECTRIC COOPERATIVES--EFFECTS ON STATEWIDE ELECTRIC SYSTEM.-- A.
In a year that a cooperative reports that one or more energy storage units have been installed, the cooperative shall also file a report with the department regarding the degree those energy storage units have contributed to the changes to the following:
Beginning on January 1, HENRCº 2021»HENRC HENRCº2022»HENRC and on each subsequent January 1 thereafter, a cooperative that uses time-of-use billing to charge for peak and off-peak electric power use shall report to the energy, minerals and natural resources department the number of energy storage units that have been installed at properties receiving residential electric power from the cooperative in the preceding calendar year.
(1) the reliability of the cooperative's electric grid system;
In a year that a cooperative reports that one or more energy storage units have been installed, the cooperative shall also file a report with the department regarding the degree those energy storage units have h contributed to the changes to the following:
(2) the operational or maintenance costs for the cooperative's electric system;
g o t hr (1) the reliability of the cooperative's g e i k electric grid system;
(3) the capacity of the cooperative's electric grid system to use renewable energy sources;
h r i s (2) the operational or maintenance costs for h , t, e u g the cooperative's electric system;
and e e 17 (4) change in the demand for peak and off-peak e e n d 18 electric use from the cooperative's system.
e b l e e h (3) the capacity of the cooperative's electric n d d i = = o h grid system to use renewable energy sources;
= = l ] 19 B.
and l ] b ,d i a º e (4) change in the demand for peak and off-peak r i = r t e w d m a n o electric use from the cooperative's system.
The energy, minerals and natural resources a l r i 20 department shall compile an annual report based on the t e a t cooperative reports filed pursuant to Subsection A of this m m 21 e d r e 22 section regarding the estimated aggregate statewide changes to c e r c 23 the statewide electric system, including changes to the:
d m :
e a n b 24 (1) reliability of the state's electric grid u [ system;
b e d s º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e - 6 - e a n e d r e l u [ A d B.
.216012.4 - 6 - (2) operational or maintenance costs for cooperatives in the state;
The energy, minerals and natural resources department shall compile an annual report based on the cooperative reports filed pursuant to Subsection A of this section regarding the estimated aggregate statewide changes to the statewide electric system, including changes to the:
(1) reliability of the state's electric grid system;
(2) operational or maintenance costs for cooperatives in the state;
The energy, minerals and natural resources department shall coordinate with the taxation and revenue department to present the annual report required pursuant to Subsection B of this section in conjunction with the presentation required pursuant to Subsection L of Section 1 of this 2020 act." SECTION 3.
The energy, minerals and natural resources department shall coordinate with the taxation and revenue department to present the annual report required pursuant to Subsection B of this section in conjunction with the presentation required pursuant to Subsection L of Section 1 of h this 2020 act." u » r SECTION 3.
DELAYED REPEAL.--Sections 1 and 2 of this act are repealed effective January 1, 2027.
DELAYED REPEAL.--Sections 1 and 2 of this act t h g e l i are repealed effective January 1, HENRCº 2027»HENRC h r i s HENRCº2023»HENRC.
SECTION 4.
h , e h SECTION 4.
APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2020.
APPLICABILITY.--The provisions of this act t u g e b l e e , gh apply to taxable years beginning on or after January 1, n d d i = = o h HENRCº 2020»HENRC HENRCº2021»HENRC.
- 7 - e e 17 e e n d 18 = = l ] 19 a l r i 20 t e a t m m 21 e d r e 22 c e r c 23 e a n b 24 u [ .216012.4
l ] b ,d i a º r - 7 - e r = t e w d m a n o d m :
b r e t º o t n = .216012.4AIC February 3, 2020 (4:47pm) s k m e e a n e d r e l u [ A d
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Action History

  1. action postponed indefinitely

  2. DO PASS, as amended, committee report adopted

  3. Sent to House Energy, Environment and Natural Resources Committee & House Taxation & Revenue Committee

Sponsors

  • Abbas Akhil · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (1)

  • Akhil, Abbas

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors HB 201?
HB 201 is sponsored by Akhil, Abbas.
What is the current status of HB 201?
This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
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