Current through Register Vol. 35, No. 18, September 24, 2024
A. To obtain the 2021 sustainable building
tax credit, a taxpayer shall apply for a certificate of eligibility with the
department using either a department-developed application form or approved
electronic application system as directed by the division director. An
applicant may obtain the department-developed application form or access to the
electronic application system from the department.
B. An application package shall include a
completed application form and attachments as specified on the application form
or by the electronic application system. The applicant shall submit the
application form and required attachments at the same time. An applicant shall
submit one application package for each sustainable residential or commercial
building or manufactured house. An applicant for a multiuse building shall
submit one residential application and one commercial application. The
applicant shall submit all material in the application package on 81/2 inch by
11-inch paper or using any approved electronic application system provided by
the department as directed by the division director. If the applicant fails to
submit the application form and required attachments at the same time as
directed by the division director, the department may consider the application
incomplete.
C. An applicant shall
submit a complete sustainable building application package to the department no
later than February 1 of the taxable year for which the applicant seeks the
2021 sustainable building tax credit. If an applicant does not submit a
complete application package by February 1, any remaining funds in any other
sustainable building category in the 2021 sustainable building tax credit
funds, under the cap, may be used in that taxable year for completed 2021
sustainable building or manufactured housing applications. The department may
review application packages it receives after that date for the subsequent
calendar year if the tax credit remains in effect.
D. The completed application form shall
consist of the following information:
(1) the
applicant's name, mailing address, telephone number and taxpayer identification
number;
(2) the name of the
applicant's authorized representative;
(3) the ending date of the applicant's
taxable year;
(4) the address of
the sustainable commercial or residential building or manufactured housing, or
the address where the renovations were done including the applicable property's
legal description;
(5) whether the
applicant was the building owner at time of certification or a subsequent
purchaser;
(6) the qualified
occupied square footage of the sustainable residential or commercial building
for projects eligible under LEED or build green New Mexico and for renovations
of commercial buildings built at least ten years prior to the renovation and
having at least 20,000 square feet;
(7) the rating system under which the
sustainable residential or commercial building was certified for projects
eligible under LEED or build green New Mexico;
(8) the certification level achieved, if
applicable;
(9) the energy rating
system index, if applicable;
(10)
documentation applicant meets water efficiency standards to comply with water
efficiency requirements of LEED and build green New Mexico programs;
(11) the date of rating system certification,
if applicable;
(12) project
completion date;
(13) if
applicable, the low-income taxpayer declaration confirming an applicant's
annual household adjusted gross income is equal to or less than two hundred
percent of the federal poverty level guidelines published by the United States
department of health and human services;
(a)
the annual update of the poverty guideline of the United States department of
health and human services as published in the federal register shall be the
basis for determining eligibility;
(b) the taxable year prior to the calendar
year in which the energy-conserving products were purchased and installed shall
be used to determine eligibility of the low-income taxpayer;
(14) if applicable, a statement
from the building owner that the occupants of the commercial or residential
building are low-income persons as defined in Paragraph (13) of Subsection D of
3.3.35.10 NMAC;
(15) a statement
signed and dated by the applicant, which may be a form of electronic signature
if approved by the department, certifying:
(a)
all information provided in the application package is true and correct to the
best of the applicant's knowledge under penalty of perjury;
(b) applicant has read the requirements
contained in 3.3.35 NMAC;
(c) if an
onsite solar system is used to meet the requirements of either the rating
system certification level applied for in the 2021 sustainable building tax
credit or the energy reduction requirement achieved, the applicant did not
claim a new solar market development income tax credit and will not do
so;
(d) applicant understands there
are annual caps for the 2021 sustainable building tax credit;
(e) applicant understands the department must
verify the documentation submitted in the application package before the
department issues a certificate of eligibility for a 2021 sustainable building
tax credit; and
(f) energy
conservation products installed on or after January 1, 2021, may be certified
for the 2021 sustainable building tax credit.
E. In addition to the application form, the
application package shall consist of the following information provided as
attachments:
(1) a copy of a deed, property
tax bill or ground lease in the applicant's name as of or after the date of
certification for the address or legal description of the sustainable
building;
(2) a copy of the rating
system certification form;
(3) a
copy of the final certification review checklist showing the points achieved,
if applicable;
(4) a copy of the
energy rating index system certificate from an approved rating network or an
equivalent rating system to the home energy rating system developed by RESNET
showing the building has achieved the energy reduction requirements for build
green New Mexico gold and emerald energy reduction levels;
(5) documentation showing compliance with the
thirty and forty percent reduction requirements including:
(a) an analysis establishing the energy per
square foot per year level that complies with the prescriptive path of the
latest adopted residential energy code; the energy level established by meeting
the energy code shall be compared to the energy consumption level of the final
sustainable residential constructed design to demonstrate that the building
consumes forty percent less energy or thirty percent less energy depending on
the certification requested; and
(b) renewables can be used to meet the forty
or thirty percent energy requirements if calculation results show the annual
energy contribution of renewables, in consistent units, of energy per square
foot per year demonstrate the forty or thirty percent requirement is met;
results from the national renewable energy laboratory PV calculator or
equivalent evaluation systems shall be used to determine the annual energy
output of photovoltaic systems;
(6) documentation showing a renovation of a
commercial building having 20,000 square feet or more reduces total energy and
power costs by fifty percent when compared to the most current energy standard
for buildings titled energy standard for buildings except low-rise residential
buildings, as developed by the american society of heating, refrigerating and
air-conditioning engineers;
(7)
documentation showing project completion date; and
(8) a copy of a notice of approval such as a
certificate of occupancy from the building official for the renovation of a
commercial building showing it was built at least 10 years prior to the project
completion date.
F. The
applicant shall provide the following attachments, as applicable;
(1) fully electric building
certification;
(2) electric vehicle
ready certification;
(3) broadband
ready certification; and
(4) any
other information the department determines it needs to review the building
project for the 2021 sustainable building tax credit.
