NM SB36

Creates two new tax credits (individual income and corporate) equal to 30% of qualified expenditures for quantum facility infrastructure or equipment located in New Mexico, capped at $50 million per facility

Requires minimum qualified expenditures of $3 million to be eligible, with an annual aggregate cap of $50 million for all credits certified statewide per calendar year

Qualified equipment must be installed, maintained, and operated in New Mexico for at least 10 years; early removal triggers proportional credit repayment

Applies to taxable years beginning January 1, 2026 through taxable years ending before January 1, 2029, with the credits automatically repealing January 1, 2030

Credits are fully refundable if they exceed tax liability, and require preliminary and final certification from the Economic Development Department