Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

AP News

Tax break on locomotive fuel clears NM House

SANTA FE, N.M. (AP) — The BNSF Railway Co. could receive a tax break on locomotive fuel in New Mexico under a proposal approved by the House.

Supporters say the measure offers the company similar tax treatment as provided to the Union Pacific Corp.

New Mexico has agreed to remove the gross receipts and compensating taxes from locomotive fuel if Union Pacific spent at least $100 million on a terminal facility near Santa Teresa.

To qualify for tax incentive in the legislation, BNSF will need to invest at least $50 million to improve railroad infrastructure in the state, including tracks and other facilities.

The company has railyards in Albuquerque, Belen and Clovis, and nearly 1,400 employees in the state.

The bill passed the House on a 64-1 vote Thursday and goes to the Senate.

blog comments powered by Disqus