In October 2003 and each year thereafter, the department shall report to the legislative finance committee and the revenue stabilization and tax policy committee on the fiscal and economic impacts of the Technology Jobs Tax Credit Act [Technology Jobs and Research and Development Tax Credit Act] using the most recently available data for the two prior fiscal years. The report shall include the number of taxpayers who have received basic credits or additional credits under the Technology Jobs Tax Credit Act [Technology Jobs and Research and Development Tax Credit Act], the amounts of the basic credits and additional credits, the geographic locations of the qualified facilities and the payroll increases of taxpayers related to additional credits, subject to the confidentiality provisions of Section 7-1-8 NMSA 1978.

History: Laws 2000 (2nd S.S.), ch. 22, § 12.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2015 (1st S.S.), ch. 2, § 10 changed the name of the Technology Jobs Tax Credit Act to the Technology Jobs and Research and Development Tax Credit Act, effective January 1, 2016.

Effective dates. — Laws 2000 (2nd S.S.), ch. 22 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective July 3, 2000, 90 days after the adjournment of the legislature.

Time to apply for tax credit. — Because the provisions in this section, Sections 7-9F-3 and 7-9F-6 NMSA 1978, indicate a legislative concentration on annual reporting and annual payroll expense, these sections indicate no intention to provide a taxpayer an open-ended time to apply for a tax credit. Team Specialty Prods., Inc v. Taxation & Revenue Dep't., 2005-NMCA-020, 137 N.M. 50, 107 P.3d 4.