New Mexico Administrative Code
Title 3 - TAXATION
Chapter 4 - CORPORATE INCOME TAXES
Part 19 - CERTIFICATION FOR TAX CREDIT FOR GEOTHERMAL GROUND-COUPLED HEAT PUMPS
Section 3.4.19.12 - SYSTEM APPLICATIONS AND LISTS OF ELIGIBLE COMPONENTS

(1) be made of new equipment, components and materials;

(2) have a written minimum two year warranty provided by the contractor on parts, equipment and labor with the following exceptions;

(3) be a complete system that collects and distributes geothermal energy to the residence, business or agricultural enterprise in New Mexico that it serves; and

(4) be a minimum one-ton system size.

(1) a system or portion of a system that would be present if the geothermal ground-coupled heat pump system was not installed;

(2) a system that is not connected to a structure or foundation and does not serve a permanent end use energy load or is not permanently located in New Mexico;

(3) a system not serving an end use energy load; or

(4) a system or portion of a system that replaces a system or portion of a system the department has certified in a previous application for a tax credit.

(1) the system applications of geothermal space heating, geothermal air heating, geothermal process heating, geothermal space cooling or combinations of geothermal system applications, domestic hot water, processed hot water, processed chilled water or any other application where hot air, cool air, hot water or chilled water is required and that utilizes ground water or water circulating through pipes buried in the ground as a condenser in the cooling mode and an evaporator in the heating mode;

(2) collectors;

(3) pumps;

(4) fans;

(5) storage tanks;

(6) buffer tanks;

(7) expansion tanks;

(8) expansion valves;

(9) valves;

(10) "txv" valves;

(11) three-way valves;

(12) refrigerant compressors;

(13) chill water tanks;

(14) refrigerant reversing valves;

(15) controllers;

(16) heat exchangers;

(17) compressors;

(18) compressor gas;

(19) flow center circulators;

(20) tubing;

(21) tubing u-bend connections;

(22) tubing connections and fittings;

(23) manifolds;

(24) supply headers;

(25) expansion metering devices;

(26) desuperheaters;

(27) hot water tanks;

(28) heat exchange refrigerant;

(29) reverse return headers;

(30) thermostats;

(31) evaporators;

(32) borehole grout;

(33) borehole backfill sand or other medium;

(34) turnarounds; and

(35) air handlers;

(36) above-ground fluid coolers;

(37) thermal conductivity testing; and

(38) all materials and costs associated with vertical well drilling and horizontal trenching including well casing and tubing.