Current through Register Vol. 46, No. 39, September 25, 2024
(a)
Application acceptance. Eligible taxpayers may apply to the Department of
Environmental Conservation for a credit component certificate pursuant to
section 19 (c) of the Tax Law. The
application must be submitted according to the following procedure: The
department will begin to accept applications 30 calendar days after the
effective date of this Part.
(b)
Application form. The application must conform to the format provided by the
New York State Department of Environmental Conservation, and must be
accompanied by the items referenced in section
638.5(a)
of this Part. Two copies of the original application package for the tax
credit, three original cover letters and electronic copy provided on disk must
be submitted to:
Director
Pollution Prevention Unit
New York State Department of Environmental
Conservation
625 Broadway
Albany, NY 12233-8010
Attn: Green Buildings Tax Credit Eligibility
Application
(c) Separate
application(s) for building spaces.
(1) If
the applications for the green building credit are submitted together for a
base building and for all tenant spaces in the building, or for a whole
building, then the energy use must be calculated by analyzing the whole
building simultaneously, as required by section
638.7(c)(3)(v)
of this Part.
(2) The tenant spaces
must demonstrate compliance with all other requirements of this Part and
section 19
of the Tax Law together as a group.
(3) If the applications for the green
building credit are not submitted together for a base building and for all
tenant spaces in the building, then the base building and/or any tenant space
that applies for the tax credit must demonstrate compliance with this Part and
section 19
of the Tax Law separately from each other.
(d) Review procedure.
(1) The Department of Environmental
Conservation will use the procedures in this section to determine the order in
which it will review and approve applications for the Green Buildings Tax
Credit pursuant to Section 19
of the Tax Law.
(2) Review of
applications for approval will be based upon the date received. Applications
received on a Saturday, Sunday, a holiday when State offices are closed, or
after 4:30 p.m. on any business day will be considered received on the next
business day. One original cover letter will be date and time stamped by the
department and returned to the applicant as proof of their initial receipt of
application.
(3) The department
will perform a review of all applications for conformance to section
638.5
of this Part.
(4) Applications that
are incomplete or otherwise do not conform to section
638.5
of this Part will be determined not to meet the requirements of this regulation
by the department and will be denied without prejudice to make a subsequent new
application. There will be no allowances for amendment of applications.
Notification of this determination will be mailed by the department to the
applicant within 90 calendar days of receipt of the application.
(e) Issuance of a credit component
certificate. If the department determines that an application is in conformance
with section
638.5(a)
of this Part, then a credit component certificate for an approved application,
signed by the commissioner of the Department of Environmental Conservation or
his/her designee, will be issued by first class mail within 90 calendar days of
receipt of an applicant's submission by the department.
(f) Insufficient tax credit allocation. If
available tax credit allocations are insufficient, the department will retain
applications deemed complete for future certificate issuance, if other
allocations become available, based upon initial date of receipt. Written
notice of insufficient funds will be provided to the applicant within 90
calendar days.
(g) Unused credits.
If credits issued are not completely utilized by an applicant awarded a
certificate, any remaining credits will be reallocated to the next eligible
applicant. If there are no eligible applicants during the calendar year, the
dollar amount of the credit allocation will be added to the amount of allowable
credit allocations for the next calendar year.
(h) Annual eligibility certificate.
(1) To verify that a taxpayer is eligible for
the tax credit, as allowed by the credit component certificate, an annual
eligibility certificate submission must be received by both the Department of
Taxation and Finance and the Department of Environmental Conservation annually
on or before the anniversary of the issuance date of the credit component
certificate. The annual eligibility certificate submission should be made
according to section 638.6 of this Part and must be submitted each year until
there is no remaining tax credit for the taxpayer to claim.
(2) The copy of the annual eligibility
certificate submitted to the Department of Taxation and Finance must also be
accompanied by the credit component certificate initially issued by the
Department of Environmental Conservation for the green building, in order to
receive tax credits.
(3) Failure on
the part of the applicant to file a copy of the annual eligibility certificate
submission with the Department of Environmental Conservation as referenced in
section
638.5(b)
and (c) of this Part will cause credit
allocations previously reserved in the credit component certificate for that
year to become subject for reallocation. The department will reallocate these
unused credits pursuant to the unused credits provision of subdivision (g) of
this section. The department will not provide reminder notices to applicants in
any form.
