New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 35 - 2021 SUSTAINABLE BUILDING TAX CREDIT › Section 3.3.35.10 - APPLICATION FOR THE 2021 SUSTAINABLE BUILDING TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. To obtain the 2021 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 residential or commercial
				building or manufactured house. An applicant for a multiuse building shall
				submit one residential application and one commercial application. 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 sustainable building application package to
				the department no later than February 1 of the taxable year for which the
				applicant seeks the 2021 sustainable building tax credit. If an applicant does
				not submit a complete application package by February 1, any remaining funds in
				any other sustainable building category in the 2021 sustainable building tax
				credit funds, under the cap, may be used in that taxable year for completed
				2021 sustainable building or manufactured housing applications. 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 commercial or residential building or manufactured housing, or
				the address where the renovations were done including the applicable 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 building
				for projects eligible under LEED or build green New Mexico and for renovations
				of commercial buildings built at least ten years prior to the renovation and
				having at least 20,000 square feet;
(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 energy rating
				system index, if applicable;
(10)
				documentation 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,
				if applicable;
(12) project
				completion date;
(13) if
				applicable, the low-income taxpayer declaration confirming an applicant's
				annual household adjusted gross income is equal to or less than two hundred
				percent of the federal poverty level guidelines published by the United States
				department of health and human services;
(a)
				the annual update of the poverty guideline of the United States department of
				health and human services as published in the federal register shall be the
				basis for determining eligibility;
(b) the taxable year prior to the calendar
				year in which the energy-conserving products were purchased and installed shall
				be used to determine eligibility of the low-income taxpayer;
(14) if applicable, a statement
				from the building owner that the occupants of the commercial or residential
				building are low-income persons as defined in Paragraph (13) of Subsection D of
				3.3.35.10 NMAC;
(15) a statement
				signed and dated by the applicant, which may be a form of electronic signature
				if approved by the department, certifying:
(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 3.3.35 NMAC;
(c) if an
				onsite solar system is used to meet the requirements of either the rating
				system certification level applied for in the 2021 sustainable building tax
				credit or the energy reduction requirement achieved, the applicant did not
				claim a new solar market development income tax credit and will not do
				so;
(d) applicant understands there
				are annual caps for the 2021 sustainable building tax credit;
(e) applicant understands the department must
				verify the documentation submitted in the application package before the
				department issues a certificate of eligibility for a 2021 sustainable building
				tax credit; and
(f) energy
				conservation products installed on or after January 1, 2021, may be certified
				for the 2021 sustainable building tax credit.