Committee adopts HAFC substitute for industrial decarbonization package, funds rebates and tax credits The committee adopted a HAFC substitute for House Bill 153, a voluntary industrial decarbonization package combining an Environmental Product Declaration grant program, a Low Carbon Material Rebate and production tax credits/capital grants. Sponsors said $25 million is identified for the rebate program and participation requires EPDs only for program applicants; agencies will administer grants.

New Mexico is making strides in sustainable manufacturing with a groundbreaking decarbonization package that includes $25 million for rebates and tax credits to boost low-carbon products!

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Committee backs industrial carbon-reduction incentives to attract clean manufacturing House Bill 320 would create production-based incentives and capital grants for manufacturers that produce industrial materials at least 40% cleaner than industry averages; advocates said the competitive program would spur jobs and investment while questions were raised about constitutional anti-donation limits.

New Mexico's HB 320 is set to revolutionize the industrial sector with incentives that not only promote cleaner production but also create jobs and drive economic growth!

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#NM #CitizenPortal #CarbonReduction #EconomicDevelopment #NewMexicoIndustry #CleanManufacturing