2021 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 15 - Tax Increment for Development

Section 5-15-1 - Short title. - Chapter 5, Article 15 NMSA 1978 may be cited as...

Section 5-15-2 - Findings and purpose. - A. The purpose of the Tax Increment for Development Act...

Section 5-15-3 - Definitions. - As used in the Tax Increment for Development Act: A....

Section 5-15-4 - Resolution for formation of a district. - A. A tax increment development plan may be approved by...

Section 5-15-5 - Contents of tax increment development plan. - A tax increment development plan shall include: A. a map...

Section 5-15-6 - Notice of public hearing. - A. Upon adoption of a resolution indicating an intent to...

Section 5-15-7 - Public hearing. - A. At a public hearing conducted pursuant to the Tax...

Section 5-15-8 - Formation determination; election. - A. The formation determination and election procedures set forth in...

Section 5-15-8.1 - Posting of notices. - For any election conducted pursuant to the Tax Increment for...

Section 5-15-9 - Formation of a district. - A. If the formation of the tax increment development district...

Section 5-15-10 - Governance of the district. - A. Following formation of a tax increment development district, a...

Section 5-15-11 - Records; open meetings. - A. A district shall keep the following records, which shall...

Section 5-15-12 - District powers; limitations. - A. In addition to other express or implied authority granted...

Section 5-15-13 - Authority to impose property tax levy. - A district has the power to establish a property tax...

Section 5-15-14 - Property tax levy rescission election. - A. A property tax levy imposed by a district may...

Section 5-15-15 - Tax increment financing; gross receipts tax increment to secure bonds. - A. A tax increment development plan, as originally approved or...

Section 5-15-15.1 - Filing fee for evaluating use of state gross receipts tax increment. - Prior to approval of a dedication of a gross receipts...

Section 5-15-16 - Bonding authority; gross receipts tax increment. - A. A district may issue gross receipts tax increment revenue...

Section 5-15-17 - Property tax increment bonds. - A. Notwithstanding any law to the contrary, but in accordance...

Section 5-15-18 - Bonding authority; property tax increment. - A. Subject to the limitations and in accordance with Article...

Section 5-15-19 - Refunding bonds. - A. A district board that has issued bonds in accordance...

Section 5-15-20 - General bonding authority of a tax increment development district; other limitations. - A. A district board shall not issue bonds against gross...

Section 5-15-20.1 - Debt service reserve account. - After the retirement of all bonds issued pursuant to the...

Section 5-15-21 - Approval required for issuance of bonds against state gross receipts tax increments. - A. In addition to all other requirements of the Tax...

Section 5-15-22 - Exemption from taxation. - The bonds authorized by the Tax Increment for Development Act...

Section 5-15-23 - Protection from impairment. - If the provisions set forth in the Tax Increment for...

Section 5-15-24 - Tax increment accounting procedures. - A district board shall separately account for all revenues and...

Section 5-15-25 - Modification of tax increment development area boundaries or tax increment development plan. - A. Following formation of a district, an area may be...

Section 5-15-25.1 - Base year revision; resolution; comment period; submission of materials. - A. A district may revise the base year that the...

Section 5-15-25.2 - Base year revision; approval. - A. The state board of finance may approve the revision...

Section 5-15-25.3 - Base year revision; effect. - A. Upon notice of the approval of a revision of...

Section 5-15-26 - Termination of tax increment development district. - A. A district shall be terminated by a resolution of...

Section 5-15-27 - Dedication of gross receipts tax increment; notice to taxation and revenue department. - A. If the state board of finance or a taxing...

Section 5-15-28 - Bond term expiration. - The terms of bonds issued pursuant to the Tax Increment...

Section 5-15-29 - Report required. - On September 1 of each year, the district board of...