Current through Register Vol. 35, No. 18, September 24, 2024
A. The
2021 sustainable building tax credit may be claimed for taxable years prior to
January 1, 2028.
B. A tax credit
provided in 3.4.22.8 NMAC may not be claimed with respect to the same
sustainable building under the 2021 sustainable building tax credit provided in
the Income Tax Act, for which a credit under the 2015 sustainable building tax
credit pursuant to the Income Tax Act or the Corporate Income and Franchise Tax
Act has already been claimed.
C. A
person who is the owner of a building in New Mexico constructed to be a
sustainable building or permanently installed manufactured housing and receives
certification on or after January 1, 2022, may receive a certificate of
eligibility for a sustainable building tax credit. A subsequent purchaser of a
sustainable residential building may receive a certificate if no tax credit has
previously been claimed for the building.
D. A person who is the owner of a commercial
building having more than 20,000 square feet of temperature-controlled space
and was built at least 10 years prior to the renovation or a building owner who
has installed energy conservation products in an existing commercial or
residential building having less than 20,000 square feet of
temperature-controlled space on or after January 1, 2021, may receive a
certificate of eligibility for a 2021 sustainable building tax
credit.
E. The annual total amounts
in a calendar year of the 2021 sustainable building tax credit pursuant to the
Income Tax Act and Corporate Income and Franchise Tax Act available to
taxpayers owning sustainable residential buildings is $2,000,000, for
sustainable commercial buildings is $1,000,000 and for sustainable manufactured
housing is $250,000. Any excess funds not used in a taxable year shall not be
carried forward to subsequent years. When the cap is reached in any category in
a given year based on all certificates of eligibility the department has
issued, the department shall:
(1) if part of
the eligible 2021 sustainable building tax credit is within the annual cap and
part is over the annual cap, issue a certificate of eligibility for the amount
under the annual cap for the applicable tax year and issue a certificate of
eligibility for the balance in a subsequent tax year, except for the last
taxable year when the 2021 sustainable building tax credit is in
effect;
(2) issue certificates of
eligibility to applicants who meet the requirements for the 2021 sustainable
building tax credit in a taxable year when applications in one sustainable
building category exceed the annual cap in another sustainable building
category and other categories are under the annual cap as determined by
February 1 of any year in which the tax credit is in effect; or
(3) if no 2021 sustainable building tax
credit funds are available, issue a certificate of eligibility for the next
subsequent tax year in which funds are available, except for the last taxable
year when the 2021 sustainable building tax credit is in effect.
F. Funding for renovation of
commercial buildings is $1,000,000 and for energy conservation products
$2,900,000.
G. In the event of a
discrepancy between a requirement of 3.4.22 NMAC and an existing New Mexico
taxation and revenue department rule promulgated before 3.4.22 NMAC's adoption,
the existing rule governs.
H. All
notices and applications required to be submitted to the department under
3.4.22 NMAC shall be submitted to the energy conservation and management
division of the department.
I. New
Mexico general requirements.
(1) Sustainable
buildings shall have the internet connections capable of connecting to a
broadband provider.
(2) New
sustainable residential buildings shall be electric vehicle ready. The parking
space shall be equipped with one 40 ampere, 208 volt or 240 volt dedicated
branch circuit for charging electric vehicles. The termination point can be a
receptacle or junction box and shall be near where electric vehicles can easily
be charged. The extension cord shall be long enough to reach to a vehicle and
meet electric code and electric vehicle manufacturing requirements.
(3) New sustainable commercial buildings
shall be electric vehicle ready with at least ten percent of the parking spaces
capable of charging electric vehicles and for residential buildings at least
one parking space. All parking spaces required to be capable of charging
electric vehicles shall be equipped with one 40 ampere, 208 volt or 240
dedicated branch circuit for charging electric vehicles. The termination point
can be a receptacle or junction box and shall be near where electric vehicles
can easily be charged. The extension cord shall be long enough to reach to a
vehicle and meet electric code and electric vehicle manufacturing
requirements.
(4) A fully electric
new building shall have a permanent supply of only electricity for space
heating, water heating, cooking appliances, clothes washing, clothes drying,
dish washing, pools and spas. No natural gas or propane plumbing shall be
installed. This is only required to obtain the 2021 sustainable building tax
credit for fully electric new buildings.
(5) A fully electric existing building shall
have a permanent supply of only electricity for space heating, water heating,
cooking appliances, clothes washing, clothes drying, pools and spas. The
existing building shall not be connected to natural gas or propane energy
supplies. Existing natural gas or propane plumbing does not need to be removed
for purpose of this provision, so long as it is disconnected. This is only
required to obtain the 2021 sustainable building tax credit for fully electric
new buildings.
(6) Sustainable
building projects shall follow the latest LEED rating system requirements as
established by the United States green building council or the latest build
green New Mexico requirements.
J. Build green New Mexico sustainable
single-family residential requirements.
(1)
Build green emerald shall:
(a) comply with
watersense standards for indoor plumbing fixtures and water using appliances
that, on average, have flow rates equal to or lower than the flow rates
required for certification;
(b)
include one waterline in the front and one waterline in the back, below the
frost line, that can be connected to a drip irrigation system if landscaping
area is available; and
(c) use
forty percent less energy than is required by following the prescriptive path
of the most current residential energy conservation code adopted by the
construction industries division of the regulation and licensing
department.
(2) Build
green gold shall:
(a) comply with watersense
standards for indoor plumbing fixtures and water using appliances that, on
average, have flow rates equal to or lower than the flow rates required for
certification;
(b) include one
waterline in the front and one waterline in the back, below the frost line,
that can be connected to a drip irrigation system if landscaping area is
available; and
(c) use thirty
percent less energy than is required by following the prescriptive path of the
most current residential energy conservation code adopted by the construction
industries division of the regulation and licensing department.
(3) Build green New Mexico shall
use department approved verifiers to determine a building project has met
certain prerequisites and performance benchmarks or credits within each
category of the build green New Mexico rating system resulting in the issuance
of a certification document.
K. Net zero homes shall be determined using
an energy rating system index that gives a numerical score to a building where
100 represents the energy use of a home relative to the 2006 International
Energy Conservation Code and 0 is equivalent to a net zero home.
