N.M. Admin. Code § 3.3.30.13

Current through Register Vol. 35, No. 23, December 10, 2024

Section 3.3.30.13 - CALCULATING THE TAX CREDIT

A. The division calculates the maximum sustainable building tax credit for non-multi-family commercial buildings 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 square footage less than or equal to 10,000 multiplied by $3.50; plus
next 40,000 square feet	the qualified 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 square footage greater than 50,000 and less than or equal to 500,000 multiplied by $.70
LEED-NC gold:
first 10,000 square	equals the qualified square footage less than or equal to 10,000 multiplied by $4.75; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $6.25; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $2.50; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $3.35; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $4.40; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $1.40; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $1.90; plus
next 40,000 square feet	the qualified 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 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 square footage less than or equal to 10,000 multiplied by $2.50; plus
next 40,000 square feet	the qualified 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 square footage greater than 50,000 and less than or equal to 500,000 multiplied by $.80

B. The division calculates the maximum sustainable building tax credit for multi-family residences 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:
first 2,000 square feet	equals the qualified square footage less than or equal to 2,000 multiplied by $5.00; plus
next 1,000 square feet	the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $2.50.
LEED-H gold or build green New Mexico gold:
first 2,000 square feet	equals the qualified square footage less than or equal to 2,000 multiplied by $6.85; plus
next 1,000 square feet	the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $3.40.
LEED-H platinum or build green New Mexico emerald:
first 2,000 square feet	equals the qualified square footage less than or equal to 2,000 multiplied by $9.00; plus
next 1,000 square feet	the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $4.45.

C. An applicant may receive both a sustainable building tax credit and a federal tax credit if the applicant is eligible for each tax credit.

D. The taxation and revenue department makes the final determination of the amount of the sustainable building tax credit.

N.M. Admin. Code § 3.3.30.13

3.3.30.13 NMAC - Rp, 3.3.30.14 NMAC, 1-1-14