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Green Building Tax Credits

Click here for the bill text.

Critical Facts

Requirements for the Buildings

Credits apply to new OR renovated buildings that the Energy, Minerals, and Natural Resources Dept have verified as having been awarded certifications as meeting LEED (Leadership in Energy and Efficient Design) or certain  Build Green New Mexico or EPA standards. LEED is a nationwide project of the US Green Building Council. More specifically, the credits apply to:

• Commercial Buildings that are LEED Certified. The amount of the credits depend on certification level
• Residential Buildings that meet either LEED OR the Gold level of the Build Green New Mexico Rating System.
• Manufactured Housing that is certified as EPA Energy Star.

The amount of the credits scales with square footage. There are also different classes of credit for buildings 10,000 square feet and under, between 10,000 and 50,000 square feet, and between 50,000 and 500,000 square feet. See the bill text for details.

Who does the certifications

Note that EMNRD will not do the certifications directly: The actual certification must be obtained by the owner through LEED, NM Build Green, or EPA.

Tax Payer Eligibility

May be claimed against Income Tax OR the Corporate Income Tax and Franchise Tax. May be claimed by the owner of the building after the building has been awarded its certification, OR by the subsequent owner. Note that it appears to apply to any building that have received the particular certifications listed in the bill whenever these credits were obtained, although for subsequent owners in particular the credits appear to limited to certifications awarded after January 1, 2007. It may have been the intent of the legislation to limit all credits to certifications awarded after January 1, 2007. Interested persons should check with EMNRD about this.

Relation to Solar Tax Credits

Note that the building cannot receive the credits if the building has a solar system which was utilized in part to obtain the buildings overall certification, and if the owner has received the New Mexico Solar Tax Credit for the system. This means that buildings should strive to obtain their certifications without counting the solar system. By all means, include a solar system, but strive to obtain the desired certification without counting it.

State Contact

Susie Marbury, (505) 476-3254.

New Mexico Green Building Community

People interested in Green Building should visit the Center for Advancing Sustainable Architecture.