The value of equipment installed as part of an electric transmission facility or an interconnected storage facility acquired by the New Mexico renewable energy transmission authority pursuant to the New Mexico Renewable Energy Transmission Authority Act [Chapter 62, Article 16A NMSA 1978] may be deducted in computing compensating tax due.
§ 7-9-102 NMSA 1978
Deduction; compensating tax; equipment for certain electric transmission or storage facilities
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
Laws 2007, ch. 3, § 17.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.