The $5 million annual cap for the residential portion of the Sustainable Building Tax Credit (SBTC) for the 2013 tax year has been met and credits are no longer available for 2013. Governor Martinez recently signed Senate Bill 14 which extends the SBTC to 2016 and makes some changes to the law. The Energy, Minerals and Natural Resources Department will need to update the program’s rules based on the new law. When the rules are updated and promulgated later this year, the Energy, Minerals and Natural Resources Department intends to again issue a Certificate of Eligibility to approved applicants. At this time, we anticipate that the first eligible tax year on those certificates will be 2014. Your patience is appreciated.
Fund Updates as of 6/10/13:
2013 COMMERCIAL: $0 used, $5 million available
2014 COMMERCIAL: $0 used, $1 million available
2014 RESIDENTIAL: $1,263,152.10 used, $2,736,847.90 available