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Current as of January 01, 2024 | Updated by Findlaw Staff
To qualify for tax credits pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall:
A. establish a small business assistance program;
B. establish a revolving fund with initial funding from a source other than tax credits. Money from the revolving fund shall be used to pay for qualified expenditures, and the fund shall be replenished with an amount equal to the tax credits taken pursuant to the Laboratory Partnership with Small Business Tax Credit Act;
C. consult with the secretary of economic development to seek advice on improvements in the operation of the small business assistance program; and
D. establish a methodology to utilize contractors who have demonstrated the capability to provide small business assistance.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 7. Taxation § 7-9E-6. Administration by the national laboratory - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-7-taxation/nm-st-sect-7-9e-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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