New Mexico Administrative Code › Title 3 - TAXATION › Chapter 4 - CORPORATE INCOME TAXES › Part 21 - 2015 SUSTAINABLE BUILDING TAX CREDIT › Section 3.4.21.10 - APPLICATION FOR THE 2015 SUSTAINABLE BUILDING TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. To obtain the 2015 sustainable building
				tax credit, a taxpayer shall apply for a certificate of eligibility with the
				department using either a department-developed application form or approved
				electronic application system as directed by the division director. An
				applicant may obtain the department-developed application form or access to the
				electronic application system from the department.
B. An application package shall include a
				completed application form and attachments as specified on the application form
				or by the electronic application system. The applicant shall submit the
				application form and required attachments at the same time. An applicant shall
				submit one application package for each sustainable building. The applicant
				shall submit all material in the application package on 8½ inch by
				11-inch paper or using any approved electronic application system provided by
				the department as directed by the division director. If the applicant fails to
				submit the application form and required attachments at the same time as
				directed by the division director, the department may consider the application
				incomplete.
C. An applicant shall
				submit a complete application package to the department no later than February
				1 of the taxable year for which the applicant seeks the 2015 sustainable
				building tax credit. If an applicant does not submit a complete application
				package by February 1, any remaining 2015 sustainable building tax credit funds
				under the cap may be used in that taxable year for completed 2015 sustainable
				building applications in another category. The department may review
				application packages it receives after that date for the subsequent calendar
				year if the tax credit remains in effect.
D. 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 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 or commercial buildings for projects eligible under
				LEED or build green New Mexico;
(7)
				the rating system under which the sustainable residential or commercial
				building was certified for projects eligible under LEED or build green New
				Mexico;
(8) the certification level
				achieved, if applicable;
(9) the
				HERS index; if applicable;
(10)
				documentation that applicant meets water efficiency standards to comply with
				water efficiency requirements of LEED and build green New Mexico
				programs;
(11) the date of rating
				system certification;
(12) project
				completion date;
(13) notice of
				approval from a code official shall be provided to document that construction,
				renovation, or installation of project was completed before April 1, 2023;
				and
(14) 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 3.4.21 NMAC;
(c) if an
				onsite solar system is used to meet the requirements of either the rating
				system certification level applied for in the 2015 sustainable building tax
				credit or the energy reduction requirement achieved, the applicant did not
				claim a solar market development tax credit;
(d) applicant understands that there are
				annual caps for the 2015 sustainable building tax credit;
(e) applicant understands that the department
				must verify the documentation submitted in the application package before the
				department issues a certificate of eligibility for a 2015 sustainable building
				tax credit; and
(f) applicant
				understands that the department issues a certificate of eligibility for the
				taxable year in which the sustainable building was certified or, if the 2015
				sustainable building tax credit's annual cap has been reached, for the next
				taxable year in which funds are available.