This bill establishes two new tax credits in New Mexico: the Quantum Facility Infrastructure Income Tax Credit and the Quantum Facility Infrastructure Corporate Income Tax Credit. Both credits are available for taxpayers who make at least three million dollars in qualified expenditures for infrastructure or equipment related to quantum facilities located in the state, and they can claim a credit equal to thirty percent of those expenditures, capped at fifty million dollars per facility. Taxpayers must apply for preliminary certification from the economic development department before incurring qualified expenditures and seek final certification within twelve months of completing construction or first use of the equipment. The total amount of credits that can be certified in a calendar year is limited to fifty million dollars.

Additionally, the bill includes definitions for "qualified equipment," "qualified expenditure," "quantum facility," and "quantum technology," among others. It also stipulates that the credits must be claimed within one year of receiving final certification, and any excess credit beyond the taxpayer's liability will be refunded. The provisions of this act will apply to taxable years beginning on or after January 1, 2026, and the credits will be repealed effective January 1, 2030.