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Funding Resources
Funding Resources
| NM Industrial Revenue Bond (IRB) Financing | |
|---|---|
| Type of Incentive | Loan, Tax |
| Eligible States | NM |
| Eligible Technology | Backpressure Turbine, Boiler, Combustion Turbine, Condensing Turbine, Extracting Turbine, Fuel Cell, Microturbine, Other, Reciprocating Engine, Heat Recovery Generator, Stirling Engine |
| Eligible Fuel | # 2 Fuel Oil, # 6 Fuel Oil, Biogas, Biomass, Coal, Hydrogen, LFG, Municipal Solid Waste, Natural Gas, Other, Tire-Derived Fuel, Waste heat Recovery |
| Eligible Project Size | All (MW) |
| Critical Information | The NM Industrial Revenue Bond Act (Section 3-32-1 et seq. NMSA 1978) and County Industrial Revenue Bond Act (Section 4-59-1 et seq. NMSA 1978) provide that any county or municipality may issue industrial revenue bonds (IRBs) for the purpose of financing electric generating plants. There are two types of IRBs in New Mexico - tax exempt IRBs and taxable IRBs. Both are exempt from property taxes. However, the tax exempt IRBs are also exempt from the payment of federal and state income tax on the interest on the bonds. This feature provides a lower interest rate. There is a federal cap on the annual issuance of tax exempt IRBs by states. In New Mexico the cap is $150 million. Cogeneration (CHP) facilities could qualify for IRB financing. |
| Start Date | 1/1/1978 |
| End Date |
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| Minimum Efficiency (%) |
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| Additional Information | IRBs may be approved only by the county or the city government in which the property will be located. |
| Web Site |
http://www.cabq.gov/econdev/irbs.html |
| Additional Web Site |
http://www.cabq.gov/econdev/documents/IRBApplication.doc |
| Primary Contact |
Peter Mitchell P.O. Box 1293 Albuquerque, NM 87103 U.S.A. Peter Mitchell (pmitchell@cabq.gov) (505) 768-3270 |