Chapter 7, Article 9F NMSA 1978 may be cited as the "Technology Jobs and Research and Development Tax Credit Act".

History: Laws 2000 (2nd S.S.), ch. 22, § 1; 2015 (1st S.S.), ch. 2, § 10.

The 2015 (1st S.S.) amendment, effective January 1, 2016, changed the title of the Technology Jobs Tax Credit Act to the "Technology Jobs and Research and Development Tax Credit Act", and changed the statutory reference from "This act" to "Chapter 7, Article 9F NMSA 1978".

Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 10 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.

Temporary provisions. — Laws 2015 (1st S.S.), ch. 2, § 22 provided that a taxpayer that becomes eligible for a research and development small business tax credit prior to January 1, 2016 but has not claimed the credit prior to January 1, 2016 may claim the credit in accordance with the provisions of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. The taxation and revenue department shall approve claims submitted but not approved prior to January 1, 2016 if the claim meets the requirements of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. Claiming the research and development small business tax credit pursuant to this section with respect to a reporting period renders the taxpayer ineligible to claim a credit for the same reporting period pursuant to the Technology Jobs and Research and Development Tax Credit Act.

Laws 2015 (1st S.S.), ch. 2, § 23 provided that on and after January 1, 2016, references in law to the Technology Jobs Tax Credit Act shall be deemed to be references to the Technology Jobs and Research and Development Tax Credit Act.