Sustainable Building Tax Credit (Personal) (New Mexico)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place New Mexico

Name Sustainable Building Tax Credit (Personal)
Incentive Type Personal Tax Credit
Applicable Sector Commercial, Residential, Nonprofit, Multi-Family Residential
Eligible Technologies Comprehensive Measures/Whole Building, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Daylighting
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Varies based on the square footage of the building and the certification level

Carryover Provisions Excess credits may be carried forward for up to 7 years





Start Date 2007-01-01
Expiration Date 2016-12-31











Program Budget $4 million for residential buildings (annual); $1 million for commercial buildings (annual)





Program Administrator New Mexico Taxation & Revenue Department
Website http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/SBTC.html
Date added to DSIRE 2007-05-07
Last DSIRE Review 2014-08-06



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

Note: As of May 23, 2014, no residential funds are available for the tax credit in years 2014, 2015, or 2016, and no commercial funds are available for the tax credit in 2014. Commercial funds for 2015 and 2016 are still available.


S.B. 463, enacted in April 2007, established a personal tax credit and a corporate tax credit for sustainable buildings in New Mexico. The tax credits apply to both commercial and residential buildings. Commercial buildings which have been registered and certified by the US Green Building Council at LEED Silver or higher for new construction (NC), existing buildings (EB), core and shell (CS), or commercial interiors (CI) are eligible for a tax credit. The amount of the credit varies according to the square footage of the building and the level of certification achieved, as indicated on the following chart:

Commercial Buildings:


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Incentive Contact

Contact Name Public Information
Department New Mexico Taxation & Revenue Department
Division Administrative Services Division - Joseph Montoya Bldg
Address P.O. Box 630
Address 2 1100 South St. Frances Dr
Place Santa Fe, New Mexico
Zip/Postal Code 87504-0630
Phone (505) 827-0369
Phone 2 (505) 827-0700

Email poffice@state.nm.us
Website http://www.tax.state.nm.us/
Contact Name Ken Hughes
Department New Mexico Energy, Minerals and Natural Resources Department
Division Energy Conservation and Management Division




Phone (505) 476-3320


Email ken.hughes@state.nm.us
Website http://www.emnrd.state.nm.us/ecmd/
     

Authorities (Please contact the if there are any file problems.)

Authority 1: N.M. Stat. § 7-2-18.19
Date Effective 2007-01-01
Date Enacted 04/02/2007, subsequently amended
Expiration Date 2016-12-31

Authority 2: NMAC 3.4.16, et seq.




Authority 3: SB 14

Date Enacted 2013-04-01
Expiration Date 2016-12-31
















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"