New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 34 - 2015 SUSTAINABLE BUILDING TAX CREDIT › Section 3.3.34.13 - CALCULATING THE TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The department calculates the maximum 2015 sustainable building tax credit for
				sustainable residential and sustainable commercial buildings that are not
				multifamily dwelling units based on the qualified occupied square footage of
				the sustainable commercial building, the LEED rating system under which the
				applicant achieved LEED certification and the certification level the applicant
				achieved. The tax credit for various square footages is specified in the chart
				below.
LEED-NC silver:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $3.50; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $1.75; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.70
LEED-NC gold:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $4.75; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $2.00; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $1.00
LEED-NC platinum:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $6.25; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $3.25; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $2.00
LEED-EB OR LEED-CS silver:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $2.50; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $1.25; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.50
LEED-EB OR LEED-CS gold:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $3.35; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $1.40; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.70
LEED-EB OR LEED-CS platinum:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $4.40; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $2.30; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $1.40
LEED-CI silver:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $1.40; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $.70; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.30
LEED-CI gold:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $1.90; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $.80; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.40
LEED-CI platinum:
first 10,000 square feet
equals the qualified occupied square footage less
								than or equal to 10,000 multiplied by $2.50; plus
next 40,000 square feet
the qualified occupied square footage greater than
								10,000 and less than or equal to 50,000 multiplied by $1.30; plus
next 450,000 square feet
the qualified occupied square footage greater than
								50,000 and less than or equal to 500,000 multiplied by $.80
B.
				The department calculates the maximum 2015 sustainable building tax credit for
				residential (single family or multifamily) dwelling units based on the
				qualified occupied square footage of the sustainable building, the rating
				system under which the applicant achieved certification and the certification
				level the applicant achieved. The tax credit for various square footages is
				specified in the chart below.
LEED-H silver or build green New Mexico
								silver:
up to 2,000 square feet
equals the qualified occupied square footage less
								than or equal to 2,000 multiplied by $3.00
LEED-H gold or build green New Mexico gold:
up to 2,000 square feet
equals the qualified occupied square footage less
								than or equal to 2,000 multiplied by $4.50
LEED-H platinum or build green New Mexico
								emerald:
up to 2,000 square feet
equals the qualified occupied square footage less
								than or equal to 2,000 multiplied by $6.50
energy star manufactured housing:
up to 2,000 square feet
equals the qualified occupied square footage less
								than or equal to 2,000 multiplied by $3.00
C.
				The taxation and revenue department makes the final determination of the amount
				of the 2015 sustainable building tax credit.