N.M. Admin. Code § 4.10.9.9

Current through Register Vol. 35, No. 21, November 5, 2024

Section 4.10.9.9 - PROGRAM REQUIREMENTS

Program requirements include the following criteria and procedures:

A. All plans, specifications, descriptions or research designs for a project for which a state income tax credit is to be claimed, shall be presented to the committee for review in a regularly scheduled meeting in Part 1 of the application prior to the commencement of work. All work that will affect the property during the project time frame shall be described, whether or not it is eligible for credit within the program. The application shall be received in the office of the division at least 14 days prior to the committee meeting in which it shall be reviewed. The division shall determine whether the information being presented is complete and adequate for committee review.

B. The owner of the cultural property must have consented in writing to listing on the register by the time of application.

C. The committee will review the application for conformance with the applicable standards and will take action on the application. Such action will take the form of an approval, approval with conditions, tabling, or denial. The applicant will be notified of the committee's decision within 14 days of the committee's meeting.

D. Projects must be completed within 24 months of the approval date. Alterations to approved projects must be submitted to the committee for action at a regularly scheduled meeting.

E. After the project is completed, the owner of a registered cultural property will submit an application to the committee for the certification of approved restoration, preservation or rehabilitation and shall provide to the committee a complete description with photographs of all work performed. Part 2 of the application (requests for certification of completed work) shall be received by the division at least 14 days prior to the committee's meeting in which it will be reviewed and within 60 days after the completion of the work, but in no event later than January 25 of the year following the taxable year in which the credit is claimed. The division shall determine whether the information being presented is complete and adequate for committee review. The property owner shall submit together with part 2, accurate and complete documentation, including a summary sheet of expenditures along with invoices, canceled checks, receipts or any documents requested by the committee of all expenses for which the property owner proposes to claim credit. Work items that are not eligible for credit shall not be included in the cost document within Part 2.

F. The committee shall review the completed work for conformity with the work schedule and the program standards.

N.M. Admin. Code § 4.10.9.9

1/21/94; 4.10.9.9 NMAC - Rn, 4 NMAC 10.9.9, 1/1/08