1. A. The division calculates the sustainable building tax credit based on the qualified occupied square footage of the sustainable residential 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:

   LEED-H silver or build green New Mexico silver: first 2,000 square feet equals the qualified square footage less than or equal to 2,000 multiplied by $5.00; plus next 1,000 square feet the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $2.50 LEED-H gold or build green New Mexico gold: first 2,000 square feet equals the qualified square footage less than or equal to 2,000 multiplied by $6.85; plus next 1,000 square feet the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $3.40 LEED-H platinum or build green New Mexico emerald: first 2,000 square feet equals the qualified square footage less than or equal to 2,000 multiplied by $9.00; plus next 1,000 square feet the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $4.45 energy star manufactured housing: up to 3,000 square feet equals the qualified square footage less than or equal to 3,000 multiplied by $3.00.

   LEED-H silver or build green New Mexico silver:

   first 2,000 square feet

   equals the qualified square footage less than or equal to 2,000 multiplied by $5.00; plus

   next 1,000 square feet

   the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $2.50

   LEED-H gold or build green New Mexico gold:

   first 2,000 square feet

   equals the qualified square footage less than or equal to 2,000 multiplied by $6.85; plus

   next 1,000 square feet

   the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $3.40

   LEED-H platinum or build green New Mexico emerald:

   first 2,000 square feet

   equals the qualified square footage less than or equal to 2,000 multiplied by $9.00; plus

   next 1,000 square feet

   the qualified square footage greater than 2,000 and less than or equal to 3,000 multiplied by $4.45

   energy star manufactured housing:

   up to 3,000 square feet

   equals the qualified square footage less than or equal to 3,000 multiplied by $3.00.

2. B. An applicant may receive both a sustainable building tax credit and a federal tax credit if the applicant is eligible for each tax credit.
3. C. The taxation and revenue department makes the final determination of the amount of the sustainable building tax credit.

[3.4.16.12 NMAC - N, 10-31-07; A, 1-1-14]