The administration of New Mexico Gov. Michelle Lujan Grisham used a legislative hearing Monday to outline new priorities for state credits toward the purchase of electric vehicles that would aid low-income residents as well as small businesses. Taxation and Revenue Department Secretary Stephanie Schardin Clarke told a panel of legislators the administration envisions tax credits that would provide a refund for low-income residents toward the purchase of an electric or plug-in electric vehicle.
That would ensure that people with the lowest incomes and have the lowest tax liability can fully participate, Schardin Clarke said. She also signaled support for corporate income tax credits to spur deployment of electric vehicles by small businesses, an offer that wouldn't apply to large vehicle fleets. Lujan Grisham, a Democrat, intends to pursue tax credits for electric vehicles during the upcoming legislative session, starting in January 2024. Bills have not yet been introduced.