N.M. Admin. Code § 3.4.21.10

Current through Register Vol. 35, No. 20, October 22, 2024

Section 3.4.21.10 - APPLICATION FOR THE 2015 SUSTAINABLE BUILDING TAX CREDIT

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 81/2 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.

E. In addition to the application form, the application package shall consist of the following information provided as attachments:

(1) a copy of a deed, property tax bill or ground lease in the applicant's name as of or after the date of certification for the address or legal description of the sustainable building;

(2) a copy of the rating system certification form;

(3) a copy of the final certification review checklist that shows the points achieved, if applicable;

(4) a copy of a HERS certificate, from a RESNET (or a rating network that has the same standards as RESNET) accredited HERS provider, using software RESNET lists as eligible for certification of the federal tax credit, showing the building has achieved a HERS index of 60 or lower;

(5) for sustainable commercial buildings that are not multifamily dwelling units, a copy of the final LEED optimized energy performance template or templates, signed by a New Mexico licensed design professional, that the applicant submitted for LEED certification including the results of the energy model that shows the kilo british thermal units per square foot per year for the sustainable commercial building;

(6) for sustainable commercial buildings that are not multifamily dwelling units, revised documentation of the energy reduction requirement, if the percent of use of any energy source for the energy model is different from the original energy target documentation by more than ten percent;

(7) a copy of the final LEED enhanced commissioning template, if available under the applicable LEED rating system;

(8) for multifamily dwelling units, a copy of a HERS certificate from a RESNET (or a rating network that has the same standards as RESNET) accredited HERS provider, using software the internal revenue service lists as eligible for certification of the federal tax credit, showing the building has achieved a HERS index of 60 or lower;

(9) documentation to show project completion date such as a copy of a notice of approval from a building official; and

(10) other information the department needs to review the building project for the 2015 sustainable building tax credit.

F. If the requirements established by the department have been complied with, the department shall issue to the building owner a document granting a 2015 sustainable building tax credit with an identification number, date of issuance, the rating system certification level awarded to the building, the amount of qualified occupied square footage in the building and a calculation of the maximum amount of the 2015 sustainable building tax credit for which the building owner would be eligible.

N.M. Admin. Code § 3.4.21.10

Adopted by New Mexico Register, Volume XXVI, Issue 24, December 30, 2015, eff. 12/30/2015, Adopted by New Mexico Register, Volume XXXIII, Issue 03, February 8, 2022, eff. 2/8/2022