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Last Updated December 15, 2023

SENATE BILL 343

New Mexico Electric Bike Rebate and Tax Credit

illustration of an eBike

Rebate Summary

Senate Bill 343 would give e-bikes retailers cash rebates of up to $1,200 if the person they sold it to provides proof they are a low-income resident. The bill asks for around $5 million from the general fund to give these rebates to the retailers. The dollar amount can vary under this bill, between $1,200 or the cost of the bike – whichever is lower.

Rebate Amount

$1,200.00
Region
New Mexico
Country
United States
Incentive Type
Post-purchase rebate
Purchase Requirements
A participating dealer that sells a new e-bike and a bicycle helmet to a low-income resident on or after July 1, 2023 may apply for a rebate to the department of finance and administration on forms in an amount equal to one thousand two hundred dollars ($1,200) or the price paid by the low-income resident for the new e-bike and bicycle helmet, whichever is less. "participating dealer" means a retailer in the business of selling e-bikes that has a primary place of business in New Mexico and is registered as a taxpayer for New Mexico tax programs that require registration
Rebate Start Date
2023-07-01

Top Vehicles

product image

Rad Power Bikes

Radster Trail

4.5
$1,999

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