reglab/housing_qa huggingface dataset:
NM Stat § 7-9F-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-8 - Rural areas.

The amount of the basic and additional credit for which a taxpayer is otherwise eligible shall be doubled if the qualified expenditures were incurred with respect to a qualified facility in a rural area. History: Laws 2000 (2nd S.S.), ch. 22, § 8. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 22 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9F-9.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-9.1 - Claiming the additional credit.

A. A taxpayer may apply for approval of an additional credit pursuant to the Technology Jobs and Research and Development Tax Credit Act within one year following the end of the taxable year in which the qualified expenditure was made. B. A taxpayer that has applied for and been granted approval for an additional credit by the department pursuant to the Technology Jobs and Research and Development Tax Credit Act may claim the amount of the approved additional credit against the taxpayer's income tax or corporate income tax liability. Except as provided in Subsection C of this section, no taxpayer may claim an amount of approved additional credit for a taxable year in which the additional credit is being claimed that exceeds the amount of the taxpayer's income tax or corporate income tax due for that taxable year. C. If a taxpayer is a qualified research and development small business and the amount of approved additional credit for the taxable year in which the additional credit is being claimed exceeds the taxpayer's income tax liability or corporate income tax liability, the excess shall be refunded to the taxpayer pursuant to Paragraphs (1) through (3) of this subsection. If the taxpayer's total qualified expenditures for the taxable year for which the claim is made is: (1) less than three million dollars ($3,000,000), the excess additional credit shall be refunded to the taxpayer; (2) greater than or equal to three million dollars ($3,000,000) and less than four million dollars ($4,000,000), two-thirds of the excess additional credit shall be refunded to the taxpayer; and (3) greater than or equal to four million dollars ($4,000,000) and less than or equal to five million dollars ($5,000,000), one-third of the excess additional credit shall be refunded to the taxpayer. D. Any amount of approved additional credit not claimed against the taxpayer's income tax or corporate income tax due for a taxable year or refunded to the taxpayer may be claimed in subsequent reporting periods for a period of up to three years from the date of the original claim. E. Married individuals filing separate returns for a taxable year for which they could have filed a joint return may each claim only one-half of the additional credit that would have been claimed on a joint return. History: 1978 Comp., § 7-9F-9.1, enacted by Laws 2015 (1st S.S.) ch. 2, § 17. ANNOTATIONSEffective dates. — Laws 2015 (1st S.S.), ch. 2 § 26 makes Laws 2015 (1st S.S.), ch. 2, § 17 effective January 1, 2016. Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 17 apply to taxable years beginning on or after January 1, 2015 and apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.
NM Stat § 7-9F-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-10 - Credit claim forms.

The department shall provide credit claim forms. A credit claim shall accompany any return in which the taxpayer wishes to apply for an approved basic or additional credit, and the claim shall specify the amount and type of credit intended to apply to each return. History: Laws 2000 (2nd S.S.), ch. 22, § 10. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 22 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9F-11 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-11 - Recapture.

If the taxpayer or a successor in business of the taxpayer ceases operations in New Mexico for at least one hundred eighty consecutive days within a two-year period after the taxpayer has claimed a basic credit or an additional credit at a facility with respect to which the taxpayer has claimed the basic credit or the additional credit, the department shall grant no further basic credit or additional credit to the taxpayer with respect to that facility. In addition, any amount of approved basic credit not claimed against the taxpayer's gross receipts tax, compensating tax or withholding tax and any amount of approved additional credit not claimed against the taxpayer's income tax or corporate income tax shall be extinguished, and within thirty days after the one hundred eightieth day of the cessation of operations, the taxpayer shall pay the amount of any gross receipts tax, compensating tax or withholding tax for which an approved basic credit was taken and any income tax or corporate income tax against which an approved additional credit was taken. For purposes of this section, a taxpayer shall not be deemed to have ceased operations during reasonable periods for maintenance or retooling or for the repair or replacement of facilities damaged or destroyed or during the continuance of labor disputes. History: Laws 2000 (2nd S.S.), ch. 22, § 11. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 22 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9F-12 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-12 - Department report.

In October 2003 and each year thereafter, the department shall report to the legislative finance committee and the revenue stabilization and tax policy committee on the fiscal and economic impacts of the Technology Jobs Tax Credit Act [Technology Jobs and Research and Development Tax Credit Act] using the most recently available data for the two prior fiscal years. The report shall include the number of taxpayers who have received basic credits or additional credits under the Technology Jobs Tax Credit Act [Technology Jobs and Research and Development Tax Credit Act], the amounts of the basic credits and additional credits, the geographic locations of the qualified facilities and the payroll increases of taxpayers related to additional credits, subject to the confidentiality provisions of Section 7-1-8 NMSA 1978. History: Laws 2000 (2nd S.S.), ch. 22, § 12. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2015 (1st S.S.), ch. 2, § 10 changed the name of the Technology Jobs Tax Credit Act to the Technology Jobs and Research and Development Tax Credit Act, effective January 1, 2016. Effective dates. — Laws 2000 (2nd S.S.), ch. 22 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective July 3, 2000, 90 days after the adjournment of the legislature. Time to apply for tax credit. — Because the provisions in this section, Sections 7-9F-3 and 7-9F-6 NMSA 1978, indicate a legislative concentration on annual reporting and annual payroll expense, these sections indicate no intention to provide a taxpayer an open-ended time to apply for a tax credit. Team Specialty Prods., Inc v. Taxation & Revenue Dep't., 2005-NMCA-020, 137 N.M. 50, 107 P.3d 4.
NM Stat § 7-9F-13 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-13 - Taxpayer reporting requirement.

A taxpayer claiming a credit pursuant to the Technology Jobs and Research and Development Tax Credit Act shall file reports with the department. The reports shall be submitted on or before June 30 of the year following a calendar year in which the taxpayer claims a basic or additional credit and by June 30 of each of the two succeeding years. The reports shall contain information describing the taxpayer's business operations in New Mexico that is sufficient for the department to enforce the recapture provision pursuant to Section 7-9F-11 NMSA 1978. If a taxpayer fails to submit a required report, the amount of any basic or additional credit claimed for that year shall be subject to the recapture provision. History: Laws 2015 (1st S.S.), ch. 2, § 18. ANNOTATIONSEffective dates. — Laws 2015 (1st S.S.), ch. 2 § 26 makes Laws 2015 (1st S.S.), ch. 2, § 18 effective January 1, 2016. Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 18 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.
NM Stat § 7-9H-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-1 - Repealed.

History: Laws 2005, ch. 104, § 11; 2011, ch. 67, § 1.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-1 NMSA 1978, as enacted by Laws 2005, ch. 104, § 11, relating to the short title of the act, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9H-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-2 - Repealed.

History: Laws 2005, ch. 104, § 12.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-2 NMSA 1978, as enacted by Laws 2005, ch. 104, § 12, relating to definitions, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9H-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-3 - Repealed.

History: Laws 2005, ch. 104, § 13; 2011, ch. 67, § 2.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-3 NMSA 1978, as enacted by Laws 2005, ch. 104, § 13, relating to research and development small business tax credit, amount and eligibility, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9H-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-4 - Repealed.

History: Laws 2005, ch. 104, § 14.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-4 NMSA 1978, as enacted by Laws 2005, ch. 104, § 14, relating to claiming the credit and credit claim forms, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9H-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-5 - Repealed.

History: Laws 2005, ch. 104, § 15.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-5 NMSA 1978, as enacted by Laws 2005, ch. 104, § 15, relating to limitation on other credits, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9H-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9H - Research and Development Small Business Tax Credit (Repealed.)|Section 7-9H-6 - Repealed.

History: Laws 2005, ch. 104, § 16.ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24 repealed 7-9H-6 NMSA 1978, as enacted by Laws 2005, ch. 104, § 16, relating to administration of the act, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9I-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9I - Affordable Housing Tax Credit Act|Section 7-9I-1 - Short title.

Chapter 7, Article 9I NMSA 1978 may be cited as the "Affordable Housing Tax Credit Act". History: Laws 2005, ch. 104, § 17; 2010, ch. 17, § 1. ANNOTATIONSThe 2010 amendment, effective July 1, 2010, deleted "Sections 17 though 22 of this act" and added "Chapter 7, Article 9I NMSA 1978".
NM Stat § 7-9I-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9I - Affordable Housing Tax Credit Act|Section 7-9I-2 - Definitions.

As used in the Affordable Housing Tax Credit Act: A. "affordable housing project" means land acquisition, construction, building acquisition, remodeling, improvement, rehabilitation, conversion or weatherization for residential housing that is approved by the authority and that includes single-family housing or multifamily housing; B. "authority" means the New Mexico mortgage finance authority; C. "department" means the taxation and revenue department; D. "modified combined tax liability" means the total liability for the reporting period for the gross receipts tax imposed by Section 7-9-4 NMSA 1978 together with any tax collected at the same time and in the same manner as the gross receipts tax, such as the compensating tax, the withholding tax, the interstate telecommunications gross receipts tax, the surcharges imposed by Section 63-9D-5 NMSA 1978 and the surcharge imposed by Section 63-9F-11 NMSA 1978, minus the amount of any credit other than the affordable housing tax credit applied against any or all of these taxes or surcharges; but "modified combined tax liability" excludes all amounts collected with respect to local option gross receipts taxes and governmental gross receipts taxes; and E. "person" means an individual, tribal government, housing authority, corporation, limited liability company, partnership, joint venture, syndicate, association or nonprofit organization. History: Laws 2005, ch. 104, § 18; 2010, ch. 17, § 2; 2015, ch. 17, § 1. ANNOTATIONSThe 2015 amendment, effective July 1, 2015, removed "county" and "municipality" from the definition of "person" as used in the Affordable Housing Tax Credit Act; and in Subsection E, after "individual", deleted "county, municipality". The 2010 amendment, effective July 1, 2010, in Subsection A, after "authority and that includes", deleted "only" and after "multifamily housing", deleted "located in a county with a population of less than one hundred thousand according to the most recent federal decennial census".
NM Stat § 7-9I-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9I - Affordable Housing Tax Credit Act|Section 7-9I-4 - Affordable housing project completion notice.

The authority shall certify to the department approval of an affordable housing project for which an investment voucher is issued pursuant to the Affordable Housing Tax Credit Act within twenty days of issuance of that voucher. History: Laws 2005, ch. 104, § 20. ANNOTATIONSEffective dates. — Laws 2005, ch. 104, § 29 made Laws 2005, ch. 104, § 20 effective July 1, 2005.
NM Stat § 7-9I-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9I - Affordable Housing Tax Credit Act|Section 7-9I-5 - Affordable housing tax credit.

A. The tax credit provided in this section may be referred to as the "affordable housing tax credit". Except as otherwise provided by the Affordable Housing Tax Credit Act, a holder of an investment voucher that submits the investment voucher to the department may apply for, and the department may allow, a tax credit in an amount not to exceed the value of the investment voucher during the tax year in which the authority certifies to the department: (1) completion of a service for which an investment voucher has been issued pursuant to the Affordable Housing Tax Credit Act; or (2) approval by the authority or completion of an affordable housing project for which a land, building or cash donation has been made and for which an investment voucher has been issued pursuant to the Affordable Housing Tax Credit Act. B. A holder of an investment voucher may apply all or a portion of the affordable housing tax credit against the holder's modified combined tax liability, personal income tax liability or corporate income tax liability. Any balance of the affordable housing tax credit claimed may be carried forward for up to five years from the calendar year during which the authority certifies to the department approval of the affordable housing project for which the investment voucher used to claim the affordable housing tax credit is issued. No amount of the affordable housing tax credit may be applied against a local option gross receipts tax imposed by a municipality or county or against the government gross receipts tax. C. Notwithstanding the provisions of Section 7-1-8 NMSA 1978, the department may disclose to a person the balance of the affordable housing tax credit remaining with respect to any investment voucher submitted by that person. History: Laws 2005, ch. 104, § 21. ANNOTATIONSEffective dates. — Laws 2005, ch. 104, § 29 made Laws 2005, ch. 104, § 21 effective July 1, 2005.
NM Stat § 7-9I-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9I - Affordable Housing Tax Credit Act|Section 7-9I-6 - Administration of the act.

Unless otherwise provided by the Affordable Housing Tax Credit Act, the department shall administer the Affordable Housing Tax Credit Act pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978]. History: Laws 2005, ch. 104, § 22. ANNOTATIONSEffective dates. — Laws 2005, ch. 104, § 29 made Laws 2005, ch. 104, § 22 effective July 1, 2005.
NM Stat § 7-9J-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-1 - Short title.

Sections 11 through 18 of this act [7-9J-1 to 7-9J-8 NMSA 1978] may be cited as the "Alternative Energy Product Manufacturers Tax Credit Act". History: Laws 2007, ch. 204, § 11. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9J-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-3 - Administration.

The department shall administer the Alternative Energy Product Manufacturers Tax Credit Act pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978]. History: Laws 2007, ch. 204, § 13. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9J-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-4 - Alternative energy product manufacturers tax credit.

A. A tax credit to be known as the "alternative energy product manufacturers tax credit" may be claimed by a taxpayer in an amount: (1) for which the taxpayer has been granted approval by the department pursuant to the Alternative Energy Product Manufacturers Tax Credit Act; and (2) not to exceed five percent of the taxpayer's qualified expenditures. B. The alternative energy product manufacturers tax credit may only be deducted from the taxpayer's modified combined tax liability. Any portion of the alternative energy product manufacturers tax credit that remains unused at the end of the taxpayer's reporting period may be carried forward for five years. History: Laws 2007, ch. 204, § 14. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9J-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-5 - Eligibility requirements; employment.

To be eligible to claim a credit pursuant to the Alternative Energy Product Manufacturers Tax Credit Act, the taxpayer shall employ a number of full-time employees equal to one full-time employee in addition to the number of full-time employees employed one year prior to the day on which the taxpayer applies for the credit for every: A. five hundred thousand dollars ($500,000), or a portion of that amount, of qualified expenditures claimed by the taxpayer in a taxable year in the same claim, up to a value of thirty million dollars ($30,000,000); and B. one million dollars ($1,000,000), or a portion of that amount, in value of qualified expenditures over thirty million dollars ($30,000,000) claimed by the taxpayer in a taxable year in the same claim. History: Laws 2007, ch. 204, § 15. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9J-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-6 - Approval of credit; issuance and denial; application; deadlines.

A. The department shall issue or deny approval for an alternative energy product manufacturers tax credit in response to a taxpayer's application for approval for the credit. The department shall issue approval for a credit claimed by a taxpayer who satisfies the requirements of the Alternative Energy Product Manufacturers Tax Credit Act. B. The department may require a taxpayer who claims an alternative energy product manufacturers tax credit to produce evidence of the taxpayer's compliance with the Alternative Energy Product Manufacturers Tax Credit Act. C. A taxpayer may apply for approval of an alternative energy product manufacturers tax credit on or before the last day of the year following the end of the calendar year in which the qualified expenditure is made. The department shall not issue approval for the alternative energy product manufacturers tax credit if the taxpayer applies for approval after the last day of the year following the end of the calendar year in which the qualified expenditure is made. History: Laws 2007, ch. 204, § 16. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9J-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9J - Alternative Energy Product Manufacturers Tax Credit Act|Section 7-9J-7 - Recapture.

If the taxpayer or a successor in the business of the taxpayer ceases operations at a facility in New Mexico for at least one hundred eighty consecutive days within a two-year period after the taxpayer has claimed an alternative energy product manufacturers tax credit, the department shall not grant additional alternative energy product manufacturers tax credits with respect to that facility. Any amount of the approved credit with respect to that facility that is not claimed against the taxpayer's modified combined tax liability shall be extinguished, and within thirty days after the one hundred eightieth day of cessation of operations, the taxpayer shall pay the modified income tax liability against which an approved credit was taken. For the purposes of this section, a taxpayer shall not be deemed to have ceased operations during reasonable periods for maintenance or retooling, for the repair or replacement of facilities damaged or destroyed or during labor disputes. History: Laws 2007, ch. 204, § 17. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.