N.M. Admin. Code § 3.4.23.13

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

Section 3.4.23.13 - APPLICATION REVIEW PROCESS

A. The department shall consider complete applications in the order received.

B. The department shall review the application package to calculate the state tax credit; check the accuracy of the applicant's documentation and determine whether the department shall certify the clean car corporate income tax credit. The department shall disapprove an application that is not complete, correct, or does not meet the approval criteria.

C. If the department finds the application package meets the requirements of 3.4.22 NMAC, and a state tax credit is available, the department shall certify the applicant's clean car corporate income tax credit.

D. If applicable, the department's disapproval notification shall state the reasons why the department disapproved the application. The applicant may resubmit the electronic application package for a disapproved project, but it shall be placed back at the beginning of the queue and reviewed as if it were a new application.

N.M. Admin. Code § 3.4.23.13

Adopted by New Mexico Register, Volume XXXV, Issue 18, September 24, 2024, eff. 9/24/2024