Tax Credit For Conveyance Of Property

This bill increases the tax credit for individuals and corporations who donate land for conservation or preservation purposes in New Mexico. Starting July 1, 2026, the credit will increase from 50% to 80% of the land's value, and the maximum credit amount will rise from $250,000 to $2,000,000. The bill also makes these credits refundable, meaning taxpayers can receive a refund for any credit amount that exceeds their tax liability.

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