New Mexico Administrative Code
Title 3 - TAXATION
Chapter 13 - BUSINESS TAX CREDITS
Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT
Section 3.13.19.12 - CERTIFICATION

Universal Citation: 3 NM Admin Code 3.13.19.12

Current through Register Vol. 35, No. 18, September 24, 2024

A. When a qualified energy generator, for which the division has approved a tax credit application package, produces power and it is sold to an unrelated person, then the applicant may request certification from the division. If the applicant is different from the original applicant then the new applicant shall submit a revised application form to the division indicating who is eligible for the tax credit. The qualified energy generator must demonstrate at least 10 megawatts generating capacity. The applicant shall submit:

(1) the name of the qualified energy generator;

(2) electric power output meter readings indicating at least 10 megawatts generating capacity;

(3) a copy of the bill of sale or equivalent documentation indicating the amount of electrical energy the qualified energy generator produced, precise time period of production, and the name and relationship, if any, of the buyer of the electricity; and

(4) a notice of allocation indicating the allocation of the right to claim the tax credit and evidence of each taxpayers' ownership interest.

B. For purposes of monitoring the applicant's compliance with this part, the division or its authorized representative shall have the right to visit a qualified energy generator upon giving the applicant five days notice.

C. If the division finds that a qualified energy generator, for which it has approved an application package, meets this part's criteria, the division shall issue a certificate to the applicant stating that the facility is an eligible qualified energy generator, the facility's estimated annual production potential and the limit of that facility's energy production eligible for the tax credit.

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