(Originally published in the August 2014 Housing Journal)

Who Used the Sustainable Building Tax Credit?

Funding Approved Through 2016 Already Used or Committed

During the 2005 Legislature, the state of New Mexico created a program offering tax credits for building highly energy-efficient homes, with the program set to end December 31, 2013. Builders were able to apply, and reserve credit, at various efficiency standard levels set by Build Green NM or Leadership in Energy Efficiency and Design (LEED) for Homes. In the 2013 Legislative Session the program was modified and funded through 2016.

At this point all allocated tax credits have either been issued or are going through the approval process. NMHBA, assisted by our local associations, will be asking the 2015 Legislature to re-authorize and fund the program again, maybe with some additional modifications. During discussions with legislators and members about this program we have been asked which builders were successful in using the Sustainable Building Tax Credit program. NMHBA recently asked NM Energy and Minerals Department to share statistics with us in regard to those questions. Below is a compilation of the statistics we were given.

Overall 1640 homes were built under the program since the 2013 extension. The vast majority of the credit was allocated to about 30 builders. The list below was compiled to show the entities which built at least four qualifying homes under the program. An additional 297 companies and individuals received credits for just one home, and another 3 companies received credits for 2 or 3 homes. If you have any further questions about these statistics please contact Melanie at melanie@nmhba.org.