House Tax Committee package includes climate solutions

For immediate release: March 7, 2023

In response to passage of House Taxation and Revenue’s passage of HB547 on Monday, the Sierra Club Rio Grande Chapter’s Camilla Feibelman issued the following statement: 

The Sierra Club Rio Grande Chapter is grateful to Chair Lente and the House Taxation and Revenue Committee for including three critical climate-related House tax bills that will save New Mexicans money and improve our air, water and climate.  

HB412 helps New Mexico families purchase electric vehicles, which save drivers thousands of dollars a year in fuel and maintenance. Lower- and moderate-income New Mexicans received a higher $4,000 credit, which is refundable and transferable at point of sale. 

HB32 provides tax credits for New Mexicans who add energy-storage systems, usually battery storage, for their homes and/or businesses. Home electricity storage protects against blackouts, supports our electric grid and lowers utility costs for all customers. 

HB67 makes energy-storage facilities eligible for industrial revenue bonds and some tax exemptions, just as industrial solar facilities are.  

In the face of devastating climate-driven fires and floods this summer, the House commitment to solutions that protect our kids and communities is very encouraging. 

There are two key remaining climate tax credits in the Senate: SB173, a geothermal tax credit that will help to build out this clean, renewable energy, and SB45, credits for ground-source heat pumps that make heating and cooling inexpensive and efficient and reduce our dependence on methane gas. 

Contact: Camilla Feibelman, camilla.feibelman@sierraclub.org, 505-715-8388

House Tax Committee package includes climate solutions