A. Receipts from operating a market or exchange for the sale or trading of electricity, rights to electricity and derivative products and from providing ancillary services may be deducted from gross receipts. B. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department. The deduction shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the deduction. C. Claiming a deduction provided by this section is authorization by the taxpayer receiving the deduction for the department to reveal return information necessary to comply with the requirements of Section 7-1-84 NMSA 1978. D. As used in this section, "ancillary services" means services that are supplied from or in connection with facilities employing voltage source conversion technology and that are used to support or enhance the efficient and reliable operation of the electric system. History: Laws 2012, ch. 12, § 3; 2025, ch. 130, § 85.
‹ Prev All New Mexico sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.