N.M. Code R. § 20.11.104.109 Zero-Emission Vehicle Early Action and Onetime Credits

• Library: New Mexico Administrative Code
• Edition: 2023
• Currency: Current through Register Vol. 34, No. 23, December 5, 2023
• Citation: N.M. Code R. § 20.11.104.109
• Year: 2023

A. A manufacturer may earn early action credits for any model year 2023, 2024, and 2025 motor vehicles that qualify towards the ZEV credit percentage requirement set forth in CCR, Title 13, Section 1962.2(b) that the manufacturer delivers for sale, offers for sale, sells, imports, delivers, or leases in New Mexico on or after July 1, 2022, by reporting the total delivery of such motor vehicles to the environment department before May 1 of the calendar year subsequent to the end of the model year.

B. For use for compliance beginning with model year 2026, any early action credits earned by the manufacturer pursuant to Subsection A of 20.11.104.109 NMAC (Zero-Emission Vehicle Early Action and Onetime Credits) and Subsection A of 20.2.91.109 NMAC (Zero-Emission Vehicle Early Action and Onetime Credits) shall be deposited by the environment department into the manufacturer's account in the ZEV credit bank. CARB's procedures for reporting, tracking and recording ZEV sales and credits shall be followed by the environment department.

C. For use for compliance beginning with model year 2027, once the manufacturer has satisfied all credit obligations for model years 2025 and earlier in California as confirmed by CARB, a number of onetime credits equal to the manufacturer's model year 2025 starting California credit balance multiplied by the number of passenger cars and light-duty trucks the manufacturer delivered for sale in New Mexico in model year 2025 and divided by the number of passenger cars and light-duty trucks that the manufacturer produced and delivered for sale in California in model year 2025 as confirmed by CARB shall be deposited by the environment department into the manufacturer's account in the ZEV credit bank:

manufacturer's MY2027 onetime credit = manufacturer's starting MY2025 California ZEV credit

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