N.M. Admin. Code § 3.4.22.13

Current through Register Vol. 35, No. 21, November 5, 2024
Section 3.4.22.13 - CALCULATING THE TAX CREDIT FOR THE 2021 SUSTAINABLE BUILDING TAX CREDIT
A. The department calculates the maximum 2021 sustainable building tax credit 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.

Sustainable commercial building that is broadband ready and electric vehicle ready and is completed after January 1, 2022:

LEED-NC platinum first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $5.25

LEED-NC platinum next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $2.25

LEED-NC platinum over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $1.00

LEED-EB (O&M) or CS platinum first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $3.40

LEED-EB (O&M) or CS platinum next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $1.30

LEED-EB (O&M) or CS platinum over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.35

LEED-CI platinum first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $1.50

LEED-CI platinum next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $0.40

LEED-CI platinum over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.30

LEED-NC gold first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $3.00

LEED-NC gold next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $1.00

LEED-NC gold over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.25

LEED-EB (O&M) or CS gold first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $2.00

LEED-EB (O&M) or CS gold next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $1.00

LEED-EB (O&M) or CS gold over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.25

LEED-CI gold first 10,000 square feet

equals the qualified square footage up to 10,000 multiplied by $0.90

LEED-CI gold next 40,000 square feet

equals the qualified square footage greater than 10,000 up to 40,000 multiplied by $0.40

LEED-CI gold over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.10

Additional criteria

fully electric buildings first 50,000 square feet

equals the qualified square footage up to 50,000 multiplied by $1.00

fully electric buildings over 50,000 up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.50

zero carbon, energy, waste or water certified first 50,000 square feet

equals the qualified square footage up to 50,000 multiplied by $0.25

zero carbon, energy, waste or water certified over 50,000 square feet up to 200,000 square feet

equals the qualified square footage greater than 50,000 up to 200,000 multiplied by $0.10

Renovation of commercial building at least 10 years old with at least 20,000 square feet of qualified occupied square footage in which temperature is controlled and is broadband and electric vehicle ready effective January 1, 2021:

renovation that reduces total energy consumption by 50% when compared to the most current energy standard for buildings except low-rise residential buildings as developed by american society of heating, refrigerating and air-conditioning engineers

equals qualified square footage multiplied by $2.25 up to a maximum of $150,000 per renovation

For the installation of these energy conserving products for renovation of sustainable affordable and non-affordable commercial buildings less than 20,000 square feet of space in which temperature is controlled and is broadband ready effective January 1, 2021:

Product

affordable housing

non-affordable housing

energy star air source heat pump

$2,000 including product and installation costs and associated electrical connection costs

$1,000 including product and installation costs and associated electrical connection costs

energy star ground source heat pump

$2,000 including product and installation costs and associated electrical connection costs

$1,000 including product and installation costs per product installed and associated electrical connection costs

energy star windows and doors

one hundred percent of product and installation costs up to $1,000

fifty percent of product and installation costs up to $500 per product installed

insulation improvements that meet department's rules

one hundred percent of product and installation costs up to $2,000

fifty percent of product and installation costs up to $1,000 per product installed

energy star heat pump water heater

$700 including product and installation costs and associated electrical connection costs

$350 including product and installation costs per product installed and associated electrical connection costs

electric vehicle ready

one hundred percent of product and installation costs up to $3,000 and associated electrical connection costs

fifty percent of product and installation costs up to $1,500 per product installed and associated electrical connection costs

For construction of a new sustainable residential building that is broadband ready and electric vehicle ready and completed after January 1, 2022:

LEED-H platinum

equals the qualified square footage up to 2,000 multiplied by $5.50

LEED-H gold

equals the qualified square footage up to 2,000 multiplied by $3.80

build green emerald

equals the qualified square footage up to 2,000 multiplied by $5.50

build green gold

equals the qualified square footage up to 2,000 multiplied by $3.80

manufactured housing

equals the qualified square footage up to 2,000 multiplied by $2.00

Additional criteria

fully electric building

equals the qualified square footage up to 2,000 multiplied by $1.00

zero carbon, energy, waste or water certified

equals the qualified square footage up to 2,000 multiplied by $0.25

For installation of energy conserving products for renovation of affordable and non-affordable existing residential buildings effective January 1, 2021:

Product

affordable housing and low income

non-affordable housing and non-low income

energy star air source heat pump

$2,000 including product and installation costs (per product installed if the applicant is a low- income taxpayer)

$1,000 including product and installation costs per product installed

energy star ground source heat pump

$2,000 including product and installation costs (per product installed if the applicant is a low-income taxpayer)

$1,000 including product and installation costs per product installed

energy star windows and doors

one hundred percent of product and installation costs up to $1,000 (per product installed if the applicant is a low-income taxpayer)

fifty percent of product and installation costs up to $500 per product installed

insulation improvements that meet department's rules

one hundred percent of product and installation costs up to $2,000 (per product installed if the applicant is a low-income taxpayer)

fifty percent of product and installation costs up to $1,000 per product installed

energy star heat pump water heaters

$700 including product and installation costs (per product installed if the applicant is a low-income taxpayer)

$350 including product and installation costs per product installed

electric vehicle ready

$1,000 including product and installation costs (per product installed if the applicant is a low-income taxpayer)

$500 including product and installations costs per product installed

B. Energy conservation products shall meet the specified energy star rating performance requirements at the installed location.

energy star zones for New Mexico

south-central zone

Chavez, Dona Ana, Eddy, Hidalgo, Lea, Luna and Otero counties

north-central zone

Bernalillo, Cibola, Curry, De Baca, Grant, Guadalupe, Lincoln, Quay, Roosevelt, Sierra, Socorro, Union and Valencia counties

northern

Catron, Colfax, Harding, Los Alamos, McKinley, Mora, Rio Arriba, San Juan, San Miguel, Sandoval, Santa Fe, Taos and Torrance counties

N.M. Admin. Code § 3.4.22.13

Adopted by New Mexico Register, Volume XXVI, Issue 24, December 30, 2015, eff. 12/30/2015, Repealed by New Mexico Register, Volume XXXIII, Issue 03, February 8, 2022, eff. 2/8/2022, Adopted by New Mexico Register, Volume XXXIII, Issue 13, July 12, 2022, eff. 7/12/2022