N.M. Governor Signs Series Of RE Bills


Gov. Bill Richardson, D-N.M., has signed a package of renewable energy and green jobs bills. The new legislation includes several measures specifically targeting solar energy.

S.B.237, Renewable Energy Tax Credit, expands the Advanced Energy Tax Credit, which was enacted in 2007, to include utility-scale solar photovoltaic and geothermal technologies. In addition, S.B.257, Solar Market Tax Development Credit, allows New Mexico's Solar Market Development Tax Credit to piggyback on federal solar credits.

H.B.572, Solar Energy Improvement Special Assessments, allows counties to impose solar energy improvement special assessments on single-family residential or commercial property if the property owner requests it. The bill is modeled on successful initiatives in Colorado and California, and the program is voluntary for both the county and the property owner, the governor's office notes.

S.B.647, Renewable Energy Financing District Act, allows counties and municipalities to form renewable energy financing districts to help fund renewable energy improvements. Participating property owners in a district will have a special assessment placed on their property.

The district may then use that revenue to secure bonds that pay for the costs of the improvements, including bond issuance, debt service and administrative fees. Most importantly, the bill allows local governments to obtain the low-interest bonds offered as part of the federal stimulus package.

SOURCE: Office Of Gov. Bill Richardson

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