New Mexico Administrative Code › Title 3 - TAXATION › Chapter 4 - CORPORATE INCOME TAXES › Part 17 - SUSTAINABLE BUILDING TAX CREDIT FOR COMMERCIAL BUILDINGS › Section 3.4.17.10 - APPLICATION FOR THE SUSTAINABLE BUILDING TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. In order to receive a certificate of
				eligibility for the tax credit, the applicant must submit an application for
				the sustainable building tax credit after the building is completed, the
				applicant has fulfilled all other requirements and the total annual cap for the
				sustainable building tax credit has not been met. 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 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
				commercial building. The applicant shall submit all material 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. An applicant shall
				submit a complete application package to the division no later than April 30 of
				the taxable year for which the applicant seeks the sustainable building tax
				credit. If an applicant does not submit a complete application package by April
				30, any remaining sustainable commercial building tax credit funds under the
				cap may be used in that taxable year for completed sustainable residential
				building applications. The division 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 authorized representative
				of the applicant, if different from the tax credit request form;
(3) the ending date of the applicant's
				taxable year;
(4) the address of
				the sustainable commercial 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 rating system
				under which the sustainable commercial building was certified;
(7) the certification level
				achieved;
(8) for non-multi-family
				commercial buildings, the kilo British thermal units per square foot per year
				anticipated as demonstrated in the energy model submitted for LEED
				certification, broken out by all energy sources and including the percent of
				use for each energy source;
(9) for
				non-multi-family commercial buildings, revised documentation of the energy
				reduction requi rement, if the percent of use of any energy source for the
				energy model is different from the original energy target documentation by more
				than 10 percent;
(10) the qualified
				occupied square footage of the sustainable commercial building;
(11) the date of certification;
(12) for multi-family commercial buildings,
				the HERS index; and
(13) a
				statement signed and dated by the applicant or an authorized representative of
				the applicant, which may be a form of electronic signature if approved by the
				department, asserting 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) all inputs for the energy reduction
				requirements are the same as the inputs for the energy model;
(c) if an onsite solar system is used to meet
				the requirements of either the 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 in place 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 tax year in which the sustainable
				commercial building was certified or if the applicant submitted the application
				after April 30 or the sustainable building tax credit's annual cap has been
				reached for the next tax year in which funds are available.