NM SB172

Extends the Technology Readiness Gross Receipts Tax Credit expiration date from July 1, 2027 to July 1, 2035

Increases the annual aggregate credit cap per national laboratory from $1 million to a phased schedule: $2 million (FY2027), $3 million (FY2028), $4 million (FY2029), and $5 million (FY2030-2035)

Maintains the per-business cap at $150,000 per fiscal year for technology readiness assistance provided by national laboratories to New Mexico businesses

Applies to national laboratories providing assistance to businesses that have licensed technology from the lab or participate in cooperative research and development agreements

Effective date: July 1, 2026