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Read. Follow. Verify.New Mexico creates corporate income tax credit for rail infrastructure investments
Last action · February 10, 2026: HCEDC: Reported by committee with Do Pass recommendation with amendment(s)Sponsors: Derrick Lente and 1 other
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What This Bill Proposed
New Mexico establishes a corporate income tax credit for railroads making qualified rail infrastructure or reconstruction expenditures prior to January 1, 2036. The measure allows the Department of Transportation and the Taxation and Revenue Department to share related taxpayer information.
Qualifying railroads can claim credits for up to fifty percent of reconstruction or new infrastructure costs, capped at a total annual statewide aggregate of six million dollars.
- State tax credits for rail infrastructure are economic development tools designed to encourage private investment in local freight networks and track maintenance. context
- New Mexico's Corporate Income and Franchise Tax Act governs state income tax requirements and liabilities for corporations operating within the state. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
railroads
Eligible railroads may claim a corporate income tax credit equal to fifty percent of qualified reconstruction, replacement, or new rail infrastructure expenditures.
Taxation and Revenue Department
The department must administer tax claims, receive certificates of eligibility, and share taxpayer information with the Department of Transportation.
Department of Transportation
The department must review applications, issue certificates of eligibility, publish certification data, and analyze the effectiveness of the tax credit.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Who is eligible to claim the rail infrastructure tax credit?
Can unused tax credits be refunded or carried forward?
Are the tax credits transferable?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
2 actions- Feb 10, 2026HouseHCEDC: Reported by committee with Do Pass recommendation with amendment(s)
- Feb 3, 2026HouseCommitteeSent to HCEDC - Referrals: HCEDC/HTRC
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Inter-agency Tax Information Sharing
The bill amends Section 7-1-8.8 NMSA 1978 to explicitly authorize the exchange of confidential corporate tax return information between the Taxation and Revenue Department and the Department of Transportation regarding rail credits.
Connected Entities
Sources
www.nmlegis.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 60)
- Controversy25Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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