RPD-41301                 State of New Mexico - Taxation and Revenue Department
Rev. 09/13/2016
                          AFFORDABLE HOUSING TAX CREDIT CLAIM FORM
                                                                                                                                                                                      Page 1 of 4
PURPOSE OF THIS FORM:  When claiming the affordable housing tax credit, this form must accompany the CRS-1, PIT-1, S-Corp, CIT-1, FID-1, 
TRS or E911 return. The holder of an investment voucher may apply all or a portion of the value (approved tax credit amount) of the investment 
voucher as an affordable housing tax credit against the holder’s modified combined tax liability (see definition on page 3), personal income tax, 
or corporate income tax liability. Any balance may be carried forward for up to five years from the end of the calendar year in which the invest-
ment voucher for the affordable housing project was originally issued, or the original voucher date. To claim the credit, the holder must attach a 
completed Form RPD-41301, Affordable Housing Tax Credit Claim Form, to the return in which you wish to apply the credit on or before the due 
date of the return.  You may apply this credit when you file your return online. Sign into Taxpayer Access Point (TAP) at https://tap.state.nm.us, 
and follow the prompts to attach this form.  To mail in, attach this form to the tax return and mail to the address on the return.  For assistance 
completing this form, call (505) 827-0792.
The holder is the individual or business to whom an investment voucher has been issued or to whom the investment voucher has been sold, 
exchanged or otherwise transferred. When an investment voucher is transferred to a new holder, notification must be made to the New Mexico 
Taxation and Revenue Department and New Mexico Mortgage Finance Authority (MFA) within ten days of the transfer by submitting to the MFA 
a completed Affordable Housing Tax Credit Transfer Form. The new holder will receive notification of approval of the transfer and a new voucher 
number will be issued for the investment voucher or the portion of the balance that was transferred. A taxpayer may not claim the tax credit until 
the transfer investment voucher and subsequent voucher number have been issued. (See more about Transfers on page 3.)
 Name of holder                                                                                                                      Social security number (SSN) or federal employer 
                                                                                                                                     identification number (FEIN) of holder
                                                                                                                                                                             Mark one: FEIN
                                                                                                                                                                                       SSN
 Mailing address                                                                                             City, state and ZIP code

 Name of contact                                       Phone number                                                                       E-mail address

1.  Enter the beginning and ending date of the tax year of this claim.                                                               From                          to
 
2.  Enter the New Mexico tax due for this report period. If applying against an income tax 
 return, enter the Net New Mexico income tax calculated before applying any credit.                                                       2.

3.  Enter the portion of total credit available (from Schedule A) you are claiming on the at-
 tached CRS-1, PIT-1, S-Corp, CIT-1, FID-1, TRS or E911 return. Do not enter more than 
 the amount of Net New Mexico tax due on the return. When claiming this credit against                                                    3.
 corporate or personal income tax, also attach the Schedule CR, for the applicable tax 
 program. ......................................................................................................................... 

NOTE: Failure to attach this form and required attachments to your New Mexico return will result in denial of the credit.

 Under penalty of perjury I declare that I have examined this claim, and to the best of my knowledge and belief, it is 
 true, correct and complete.   

 Signature of claimant                                                                                                               Date 

RPD-41301              State of New Mexico - Taxation and Revenue Department
Rev. 09/13/2016
                   AFFORDABLE HOUSING TAX CREDIT CLAIM FORM 
                                  Schedule A
               You must attach Schedule A  with Form RPD-41301, Affordable Housing Tax Credit Claim Form.        Page 2 of 4

          (a)      (b)        (c)                               (d)         (e)                          (f) 
Investment voucher Issue date Amount of credit Total credit claimed  Unused credit [(c) - (d)] Applied to the attached 
number                        approved         in previous tax years                                     return

                                               TOTAL credit available
                                               Enter the sum of column (f) here and on 
                                               line 3 of Form RPD-41301, page 1.

RPD-41301                        State of New Mexico - Taxation and Revenue Department
Rev. 09/13/2016
                            AFFORDABLE HOUSING TAX CREDIT CLAIM FORM 
                                                                                                                 Page 3 of 4
About this credit: 
The Mortgage Finance Authority (MFA) may issue investment vouchers to persons who have invested in approved afford-
able housing projects. MFA may issue an investment voucher to a person who has made an investment of land, buildings, 
materials, cash, or services for an affordable housing project approved by MFA or for a trust fund administered by MFA. The 
vouchers, good for up to 50% of the investment, may be sold or transferred. Affordable housing projects cover land acquisi-
tion, construction, materials, building acquisition, remodeling, improvement, rehabilitation, conversion, or weatherization for 
single family residential housing or multifamily residential housing approved by MFA. After receiving the investment vouchers 
from MFA, the taxpayer may apply them for a credit against the taxpayer’s modified combined tax liabilities, personal income 
tax, or corporate income tax liabilities, and the taxpayer may carry unused credit forward for five years. 

NOTE: Effective July 1, 2010, this law is expanded to include all counties, and adds materials to the list of eligible investments.

Transfers - The credit may also be sold, exchanged, or otherwise transferred to another holder. When an investment voucher 
is transferred in whole or in part to a new holder, New Mexico Taxation and Revenue Department and MFA must be notified 
within 10 days of the transfer by submitting a completed Affordable Housing Tax Credit Transfer Form to MFA. The Affordable 
Housing Tax Credit Transfer Form may be obtained from MFA. The new holder will be notified of approval of the transfer and 
issued a new investment voucher number. The transfer form will identify the new holder, the new voucher number, and the 
transfer amount, but will also identify the original voucher date. The original voucher date is the date the original investment 
voucher was issued for the affordable housing project. Upon receipt of the approved transfer form, the new holder may apply 
the affordable housing tax credit against future returns, but may not carry forward any credit for more than 5 years from the 
calendar year in which the original investment voucher was issued. 

For example, if an affordable housing project was approved and later certified by MFA, and the resulting original investment 
voucher was issued to holder Z on January 15, 2006, Z may not claim the affordable housing tax credit for any unused bal-
ance of the investment voucher after December 31, 2011. If all or a portion of the investment voucher balance is subsequently 
transferred to holder  , X X may not claim the tax credit for the transferred balance after December 31, 2011. The original voucher 
date for the original investment voucher issued to  Zand the transfer investment voucher issued to X is January 15, 2006.  

“Modified combined tax liability” means the total liability for the report period for gross receipts tax less any local option 
gross receipts tax due (5.125% of taxable gross receipts), compensating and withholding taxes, interstate telecommunications 
gross receipts tax, E911 surcharges, and telecommunications relay surcharges, minus any credit (other than the affordable 
housing tax credit) applied against these taxes. Modified combined tax liability does not include amounts collected for local 
option gross receipts taxes and governmental gross receipts taxes. 

How to apply for the credit:
Taxpayers seeking the affordable housing tax credit must contact the New Mexico Mortgage Finance Authority (505-
843-6880 or 800-444-6880) for approval of the project and issuance of the investment vouchers.

How to claim the credit:
When completing Form RPD-41301, Affordable Housing Tax Credit Claim Form, report new investment vouchers on line 1, 
and attach Schedule A if you have any investment vouchers that were previously claimed. Schedule A is used to compute 
any carryforward credits allowable. Attach Schedule B if there is more than one investment voucher to claim.  

Attach Form RPD-41301, Affordable Housing Tax Credit Claim Form, to the return for taxes against which you wish to apply 
the credit. Enter the credit claimed on the applicable line of the New Mexico income tax form, CRS-1, PIT-1, S-Corp, CIT-1, 
FID-1, TRS or E911, or underpay the amount recorded as due on forms CRS-1, TRS or E911 by the amount of the credit 
claimed. The credit to be applied may not exceed the tax liability due on the return. First, apply unused credit available from 
the investment voucher with the oldest original voucher date to the tax liability. The credit may not be claimed against local 
option gross receipts tax imposed by any county or municipality, or the governmental gross receipts tax. Any balance of 
the affordable housing tax credit may be carried forward for up to 5 years from the calendar year during which the original 
investment voucher used to claim the affordable housing tax credit was issued.  

E-mail Addresses:           New Mexico Mortgage Finance Authority -- www.housingnm.org
                            New Mexico Taxation & Revenue Department -- www.tax.newmexico.gov

RPD-41301                   State of New Mexico - Taxation and Revenue Department
Rev. 09/13/2016
                         AFFORDABLE HOUSING TAX CREDIT CLAIM FORM
                                                INSTRUCTIONS
                                                                                                                 Page 4 of 4
                                         Schedule A Instructions
For each affordable housing  tax credit approved by the New Mexico Mortgage Finance Authority (MFA) complete a row in 
Schedule A. Do not include credits approved in a tax year that is more than six years prior to the tax year for which this claim 
is filed. Unused affordable housing  tax credits may not be carried forward for more than five consecutive tax years follow-
ing the tax year for which the credit was approved. Do not include credits which have been claimed in full in prior tax years..

                                         COLUMN INSTRUCTIONS
(a) Investment voucher number - Enter the investment voucher number (credit number) assigned by MFA on the invest-
ment voucher. If the credit was transferred to you, enter the new voucher number assigned by MFA. The person to whom an 
investment voucher is issued, the holder, may claim an affordable housing tax credit against certain taxes and surcharges 
imposed on the holder for the value (approved tax credit amount) of the investment voucher that has been issued to them. 
The holder may not claim a credit for any unused balance after five years from the end of the calendar year in which the 
investment voucher for the affordable housing project was originally issued, or the original voucher date. (See more about 
Transfers on page 3.)
Enter the credit number assigned by MFA on the investment voucher. If the voucher was transferred to you, enter 
the new voucher number assigned by MFA. 
(b) Issue date. For each investment voucher reported, enter the original issue date of the investment voucher. The original 
issue date is the date the original investment voucher was issued for an affordable housing project approved and certified 
by the New Mexico Mortgage Finance Authority. If the investment voucher is transferred and a subsequent voucher number 
is issued, the original voucher date is the date that the first investment voucher is issued for that affordable housing project.  
(c) Amount of credit approved. For each investment voucher, enter the value of the investment voucher or the transfer 
value if an investment voucher has been transferred to you. 
(d) Total credit claimed in previous tax years. For each credit amount listed in column (c), enter the total amount of credit 
claimed in all tax years prior to the current tax year. 
(e) Unused credit. For each credit, subtract the amount in column (d) from the amount in column (c). 
(f) Applied to the attached return. For each credit, enter in column (f) the amount that is applied to the attached New 
Mexico tax return. 

When calculating the amount in column (f), apply the following rules:
   • Applying credits:   Apply the affordable housing tax credit in the order that they were approved. If you have both a 
     carry-forward credit and new credit derived from an approved affordable housing investment voucher during the cur-
     rent tax year, apply the oldest credit against the liability first. List each investment voucher separately.
   • The maximum amount of credit claimed in a tax year. The sum of tax credits applied to the tax due on the return 
     may not exceed the tax due on the New Mexico tax return.