Tax break proposed for hiring science graduates

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News,Science and Technology

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.

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