QUANTUM FACILITY INFRASTRUCTURE TAX CREDIT

SB 211 creates a 30% tax credit for businesses spending at least $3 million on infrastructure for quantum technology research facilities in New Mexico, capped at $50 million per facility. It directly affects companies building such facilities (excluding U.S. government-operated sites) by allowing them to reduce their state income tax liability through a two-step certification process with the economic development department. The credit expires for taxable years ending before 2035, with a total state spending limit of $75 million (increasing to $150 million if New Mexico wins a specific federal quantum grant). The bill was referred to committees but was postponed indefinitely on June 3, 2025.