New Mexico Register / Volume XXXV,
Issue 10 / May 21, 2024
NOTICE
OF PUBLIC HEARING AND RULEMAKING
The State of New
Mexico, Energy, Minerals and Natural Resources Department (EMNRD) hereby gives notice
of the following proposed rulemaking. EMNRD proposes to repeal 3.3.14 NMAC, New
Solar Market Development Income Tax Credit, filed 8/25/2020, and replace it
with a new rule, 3.3.14 NMAC, New Solar Market Development Income Tax Credit.
Purpose of Rules.
In 2024, the Legislature passed the amendments to the New Solar Market
Development Tax Credit, which is established in the Income Tax Act. The
amendments to the act require EMNRD to repeal the rule and develop a new rule
that is compliant with the amendments in the legislation.
3.3.14 NMAC, New
Solar Market Development Tax Credit, increases the annual aggregate amounts of
the state tax credit available to applicants owning certified solar energy
systems from $12,000,000 to $30,000,000 per calendar year. In addition, a
single appropriation of $20,000,000 is provided to applicants in calendar years
2020 through 2023 who, while otherwise eligible, did not receive a certificate
for a tax credit because the cap had been exceeded in the applicable year.
EMNRD also proposes amendments to the application requirements meant to
simplify and streamline the process for both applicants and EMNRD.
Legal Authority.
EMNRD proposes the rules under the authority of the Income Tax Act, NMSA 1978,
Section 7-2-18.31.
The full text of
the proposed rules is available from the EMNRD, Energy Conservation and
Management Division, 1220 S. Saint Francis Drive, Santa Fe, NM 87505; at
https://www.emnrd.nm.gov/ecmd/ecmd-public-notices/ or by contacting Claudette
Montoya at ClaudetteR.Montoya1@emnrd.nm.gov telephone (505) 372-8743.
Public Hearing and
Comment. EMNRD will hold an in person and virtual public hearing on the
proposed rules at 9:30 am on July 02, 2024. The public can attend in person in
the EMNRD Wendell Chino Building, Pecos Hall on 1220 South St. Francis Drive,
Santa Fe, NM 87505. The public may also
join the hearing virtually through Microsoft Teams using one of the following:
New Solar Market
Development Tax Credit Rule, 2024 Rule Hearing Event.
https://teams.microsoft.com/l/meetup-join/19%3ameeting_YzBjNWZjMTAtZTljMS00NmU3LWI4MTAtNzg5OGNmMDVhYWI5%40thread.v2/0?context=%7b%22Tid%22%3a%2204aa6bf4-d436-426f-bfa4-04b7a70e60ff%22%2c%22Oid%22%3a%227a2869ad-e8e9-4114-99d7-c4dafba0a50c%22%7d:
Select link to join the meeting.
Meeting ID: 232
551 013 743
Passcode: vppRub
Dial-in by
telephone
+1 505-312-4308
United States, Albuquerque
Phone conference
ID: 266 478 269#
Comments made
online or in person will be accepted.
Those wishing to
comment on the proposed rules may make oral comments or submit written comments
at the hearing, or may submit written comments by July 02, 2024, by 12:00 p.m.
by mail or e-mail. Please mail written comments to Claudette Montoya, EMNRD, Energy
Conservation and Management Division, 1220 South Saint Francis Drive, Santa Fe,
New Mexico 87505 or submit them by e-mail to ClaudetteR.Montoya1@emnrd.nm.gov.
If you are an individual
with a disability who needs a reader, amplifier, qualified sign language
interpreter, or any other form of auxiliary aid or service to attend or
participate in the hearing, please contact Claudette Montoya at telephone (505)
372-8743 or the New Mexico Relay Network at 1-800-659-1779 at least two weeks
prior to the hearing. Public documents can be provided in various accessible
formats. Please contact Claudette Montoya by telephone at (505) 372-8743, if a
summary or other type of accessible format is needed.
Technical
Information. There is no technical information for the proposed rule
amendments.