Tax Break Proposed For Hiring Science Graduates
SANTA FE, N.M. (AP) — Lawmakers are proposing a tax credit to encourage businesses to hire students receiving graduate degrees in science and technology from a New Mexico college.
The measure is to help stop the so-called brain drain of highly educated professionals leaving New Mexico for jobs in other states after earning a master's or doctorate degree in mathematics, engineering, technology, the sciences or a health-related field.
Employers could receive a tax credit of $5,000 for each qualified graduate that's hired for a full-time job with benefits.
Albuquerque Sen. Tim Keller, the No. 3 Democratic leader in the Senate, is sponsoring the bill along with Republican Rep. James Smith of Sandia Park.
Under the measure, the state would grant no more than $2 million in tax credits annually.