NMSA 1978, § 7-16A-9.4 — 7-16A-9.4

Reporting requirements; special fuel deduction;
biodiesel.

# A.

A taxpayer that deducts an amount of special fuel that is biodiesel from the total
amount of special fuel received in New Mexico pursuant to Paragraph (2) of Subsection
H of Section 7-16A-10 NMSA 1978 shall report the deducted amount separately with
the taxpayer's return in a manner prescribed by the department.

# B.

The deduction provided by this section shall be included in the tax expenditure
budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of
the deduction.