Santa Fe, NM – Today House Bill 217, Electric Vehicle Income Tax Credit, passed the House Energy, Environment, and Natural Resources Committee. Here is a statement from the NM House Democrats:
House Bill 217, sponsored by Representative Jim Trujillo (D-Santa Fe), Representative Micaela Lara Cadena (D-Mesilla), Representative Pat Woods (R-Broadview), Representative Javier Martinez (D-Albuquerque), and Representative Marian Matthews (D-Albuquerque), provides incentives to New Mexican consumers to purchase electric vehicles and to install at-home charging units. House Bill 217 also includes a double credit amount for low income consumers and a price cap for these credits which would exclude most luxury vehicles, thereby encouraging lower income New Mexicans to join the electric vehicle marketplace in a more significant way.
“Low income people in our state and around the world will be the most impacted by climate change. House Bill 217 creates opportunity for lower-income New Mexicans to center their conservation values when purchasing a new car,” said Representative Micaela Lara Cadena (D-Mesilla). “I am committed to making environmentally-responsible and economical vehicles available for more New Mexico families across income levels.”
Having more electric and hybrid vehicles on New Mexico’s roads reiterates the state’s commitment to clean energy and means cleaner air for all families, communities, and for generations to come. According to an MJ Bradley & Associates analysis, if New Mexico electric vehicle adoption follows the most moderate trajectory, the value of benefits from greater PEV use in New Mexico will exceed $5.3 billion state-wide by 2050 including greater savings in maintenance, better grid system utilization, and lower gas costs.
House Bill 217 passed the House Energy, Environment, and Natural Resources Committee and now moves on to the House Taxation and Revenue Committee.