Technology

SB 172 extends New Mexico's Technology Readiness Gross Receipts Tax Credit, allowing national laboratories operating in the state to claim tax credits for costs incurred while helping registered New Mexico businesses mature technologies developed at those labs. The credit covers qualified expenses like lab staff salaries, travel, and supplies, up to $150,000 per business annually and with annual limits per laboratory (starting at $2 million in 2026-2027 and rising to $5 million by 2029). To qualify, businesses must be registered in New Mexico and have licensed technology from the lab or participate in a cooperative research agreement with it. National laboratories must submit annual reports detailing program activities, business progress, and economic impact studies to the state tax department.

SB 111 clarifies the definition of "personal information" within New Mexico's Motor Vehicle Code. It explicitly states that vehicle ownership details, accident records, driving violations, and driver status do not qualify as "personal information" under this definition. This amendment creates a clear boundary between personal data (like social security numbers) and vehicle-related records for state agencies. The bill is currently progressing through legislative committees after passing a committee report.