NM SB97

Expands the definition of "qualified expenditure" under the Technology Jobs and Research and Development Tax Credit Act to include expenditures on property owned by a municipality or county in connection with an industrial revenue bond project, which were previously excluded

Extends the carry-forward period for unused approved additional tax credits from three years to ten years from the date of the original claim

Allows tax credits under the Act to be sold, exchanged, or transferred to another taxpayer for full value, with parties required to notify the Taxation and Revenue Department within ten days of the transaction

Applies to taxable years beginning on or after January 1, 2026