New Mexico Administrative Code › Title 3 - TAXATION › Chapter 4 - CORPORATE INCOME TAXES › Part 16 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.4.16.10 - APPLICATION FOR THE SUSTAINABLE BUILDING TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. In order to obtain the sustainable
				building tax credit, a taxpayer shall apply for a certificate of eligibility
				with the division on a division-developed form. An applicant may obtain an
				application form from the division.
B. An application package shall include a
				completed application form and attachments as specified on the application
				form. The applicant shall submit the application form and required attachments
				at the same time. An applicant shall submit one application form for each
				sustainable residential building. The applicant shall submit all material
				submitted in the application package on 8½ inch by 11 inch paper. If the
				applicant fails to submit the application form and required attachments at the
				same time or on 8½ inch by 11 inch paper the division may consider the
				application incomplete.
C. 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
				residential building, including the 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 building;
(7) the rating system under which the
				sustainable residential building was certified;
(8) the certification level achieved, if
				applicable;
(9) the HERS
				index;
(10) the date of rating
				system certification;
(11) a
				statement signed and dated by the applicant, which may be a form of electronic
				signature if approved by the department, agreeing that:
(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 3.4.16 NMAC;
(c) if an
				onsite solar system is used to meet the requirements of either the rating
				system certification level applied for in the sustainable building tax credit
				or the energy reduction requirement achieved, the applicant has not applied for
				and will not apply for a solar market development tax credit;
(d) applicant understands that there are
				annual caps for the sustainable building tax credit;
(e) applicant understands that the division
				must verify the documentation submitted in the application package before the
				department issues a certificate of eligibility for a sustainable building tax
				credit; and
(f) applicant
				understands that the department issues a certificate of eligibility for the
				taxable year in which the sustainable residential building was certified or, if
				the sustainable building tax credit's annual cap has been reached, for the next
				taxable year in which funds are available; and
(12) a project number the division assigns to
				the tax credit application.