NM HB62

Renames the "geothermal electricity generation" income and corporate income tax credits to "geothermal energy production" tax credits, expanding eligibility to include thermal energy production in addition to electricity generation

Establishes a 10-year graduated tax credit schedule per kilowatt-hour: $0.015 (year 1), $0.02 (year 2), $0.025 (year 3), $0.03 (year 4), $0.035 (year 5), $0.04 (year 6), $0.035 (year 7), $0.03 (year 8), $0.025 (year 9), and $0.02 (year 10)

Increases the annual aggregate cap for certified credits from $5 million to $55 million, with $11 million reserved for tribal businesses and small businesses (defined as 50 or fewer employees)

Limits credits per facility to the first 200,000 megawatt-hours of geothermal energy produced annually and extends the credit availability from January 1, 2032 to January 1, 2036

Allows tax credit certificates to be sold, exchanged, or transferred to another taxpayer for full value, with parties required to notify the department within 10 days of the transaction