The bill amends the High-Wage Jobs Tax Credit provisions in New Mexico law, extending the eligibility date for new high-wage jobs from July 1, 2026, to July 1, 2036. This tax credit is designed to incentivize businesses to create and fill new high-wage jobs within the state. The credit allows eligible employers to claim an amount equal to eight and one-half percent of the wages paid to eligible employees in new high-wage jobs, capped at $12,750 per job per qualifying period. The bill also outlines the requirements for employers to qualify for the credit, including the need to demonstrate an increase in the total number of employees with threshold jobs.

Additionally, the bill specifies that the provisions will apply to taxable years beginning on or after January 1, 2026. It includes various definitions related to eligible employees, employers, and the criteria for what constitutes a new high-wage job. The amendments aim to enhance the state's economic development by encouraging job creation in high-wage sectors, thereby supporting workforce growth and stability in New Mexico.