January 1, 2031.) A. A taxpayer who is not a dependent of another individual and who, beginning on the effective date of this section and prior to January 1, 2030, purchases and installs an electric vehicle charging unit or fuel cell charging unit in New Mexico may claim a credit against the taxpayer’s tax liability imposed pursuant to the Income Tax Act in an amount provided in Subsection B of this section. The tax credit provided by this section may be referred to as the “clean car charging unit income tax credit”.

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B. The amount of tax credit shall be in an amount equal to:

(1)     for a direct current fast charger or fuel cell charging unit, twenty-five thousand dollars ($25,000) or the cost to purchase and install the direct current fast charger or fuel cell charging unit, whichever is less; and

(2)     for all other electric vehicle charging units, four hundred dollars ($400) or the cost to purchase and install the electric vehicle charging unit, whichever is less.

C. A taxpayer shall apply for certification of eligibility for the tax credit from the energy, minerals and natural resources department on forms and in the manner prescribed by that department. Except as provided in Subsections H and I of this section, only one tax credit shall be certified for a direct current fast charger or a fuel cell charging unit per taxpayer per taxable year. The energy, minerals and natural resources department may issue rules governing the procedure for administering the provisions of this subsection.

D. An application for certification of eligibility shall include:

(1)     a receipt for the purchase and installation of the electric vehicle charging unit or fuel cell charging unit;

(2)     for electric vehicle charging units, a copy of the data sheet that specifies the connector type, plug type, voltage and current of the electric vehicle charging unit;

(3)     for a fuel cell charging unit, technical specifications on the fuel dispensing unit and fuel storage system, including information about operational pressures of the fuel cell charging unit; and

(4)     any other information the energy, minerals and natural resources department may require to evaluate eligibility for the credit.

E. If the energy, minerals and natural resources department determines that the taxpayer meets the requirements of this section, that department shall issue a dated certificate of eligibility to the taxpayer providing the amount of tax credit for which the taxpayer is eligible and the taxable years in which the credit may be claimed. The energy, minerals and natural resources department shall provide the department certificates of eligibility issued in an electronic format at regularly agreed upon intervals.

F. An application for certification of the tax credit shall be made no later than one year from the date in which the electric vehicle charging unit or fuel cell charging unit for which the credit is claimed is purchased and installed.

G. That portion of tax credit that exceeds a taxpayer’s income tax liability in the taxable year in which the credit is claimed shall be refunded to the taxpayer.

H. Married individuals filing separate returns for a taxable year for which they could have filed a joint return may each claim only one-half of the tax credit that would have been claimed on a joint return.

I. A taxpayer may be allocated the right to claim the tax credit in proportion to the taxpayer’s ownership interest if the taxpayer owns an interest in a business entity that is taxed for federal income tax purposes as a partnership or limited liability company and that business entity has met all requirements to be eligible for the credit. The total credit claimed by all members of the partnership or limited liability company shall not exceed the allowable credit pursuant to this section.

J. A taxpayer allowed to claim a tax credit pursuant to this section shall claim the tax credit in a manner required by the department. The credit shall be claimed within three taxable years of the end of the year in which the energy, minerals and natural resources department certifies the credit.

K. A taxpayer who claims the 2021 sustainable building tax credit for expenses of purchasing or installing an electric vehicle charging unit or fuel cell charging unit shall not be eligible to claim the tax credit provided by this section.

L. As used in this section:

(1)     “direct current fast charger” means an electric vehicle charging unit that provides at least fifty kilowatts of direct current electrical power for charging an electric vehicle through a connector based on fast charging equipment standards and that is approved for installation for that purpose under the National Electrical Code through an underwriters laboratories certification or an equivalent certifying organization;

(2)     “electric vehicle” means a motor vehicle subject to the registration fee pursuant to Section 66-6-2 or 66-6-4 N.M. Stat. Ann. that derives all of the vehicle’s power from electricity stored in a battery that:

(a) has a capacity of not less than twenty-five kilowatt-hours;

(b) is capable of powering the vehicle for a range of at least one hundred miles; and

(c) is capable of being recharged from an external source of electricity; (3)     “electric vehicle charging unit” means a device that:

vehicle;

(a) is used to provide electricity to an electric vehicle or plug-in hybrid electric (b) is designed to create a connection between an electricity source and the electric vehicle or plug-in hybrid electric vehicle; and

(c) uses the electric vehicle’s or plug-in hybrid electric vehicle’s control system to ensure that electricity flows at an appropriate voltage and current level;

(4)     “fuel cell charging unit” means a facility or unit that dispenses liquefied or compressed hydrogen for fuel cell vehicle refueling and that is approved for installation for that purpose under applicable codes and compliant with requirements of applicable certifying organizations;

(5)     “fuel cell vehicle” means a motor vehicle subject to the registration fee pursuant to Section 66-6-2 or 66-6-4 N.M. Stat. Ann. that:

and (a) uses a fuel cell to produce electricity that is used to drive an electric motor;

(b) is capable of powering the vehicle for a range of at least one hundred miles; and

(6)     “plug-in hybrid electric vehicle” means a motor vehicle subject to the registration fee pursuant to Section 66-6-2 or 66-6-4 N.M. Stat. Ann. that derives part of the vehicle’s power from electricity stored in a battery that:

(a) has a capacity of not less than six kilowatt-hours;

(b) is capable of powering a vehicle for a range of at least thirty miles; and

(c) is capable of being recharged from an external source of electricity.