The Sustainable Building Tax Credit provides a renovation tax credit for the purchase and installation of EV make-ready infrastructure at existing buildings. Residential properties are eligible for a $500 tax credit, increasing to $1,000 if the infrastructure is for an income-eligible resident. Commercial properties are eligible for a tax credit of 50% of the cost up to $1,500, increasing to 100% of the cost up to $3,000 if the infrastructure is for affordable housing. To be eligible, commercial buildings may not be larger than 20,000 square feet and must install wiring capable of supporting Level 2 EV charging stations at 10% of parking spaces. This tax credit is available for renovations completed between January 1, 2022, and December 31, 2027. Annual funding limits apply, with funding available on a first-come, first-served basis. For more information and additional eligibility requirements, see the SBTC website. (Reference New Mexico Statutes 7-2-18.32)