NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-9E-6
Administration by the national laboratory
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.
Amendment history
Laws 2000 (2nd S.S.), ch. 20, § 6.
Source: official source (NMSA chapter on nmonesource.com)
In this article (11 sections)
- 7-9E-1 · Short title
- 7-9E-2 · Purpose of act
- 7-9E-3 · Definitions
- 7-9E-4 · Administration of act
- 7-9E-5 · Eligibility requirements
- 7-9E-6 · Administration by the national laboratory
- 7-9E-7 · Tax credits; amounts
- 7-9E-8 · Claiming the tax credit; limitation
- 7-9E-9 · Termination of the revolving fund
- 7-9E-10 · Coordination between national laboratories
- 7-9E-11 · Reporting