On September 1 of each year, the district board of a district that receives a distribution of a gross receipts tax increment attributable to the state gross receipts tax shall submit a report to the state board of finance and the legislative finance committee that includes the estimated capital investment in the district, the estimated total net new jobs and new full-time economic base jobs created in the district and the total revenues distributed to the district in each previous fiscal year.
History: Laws 2019, ch. 275, § 8.
Effective dates. — Laws 2019, ch. 275, § 11 made Laws 2019, ch. 275, § 8 effective July 1, 2019.
Applicability. — Laws 2019, ch. 275, § 10 provided that the provisions of Laws 2019, ch. 275 shall not apply to dedications of gross receipts tax increments by the state board of finance made prior to July 1, 2019.
Structure 2021 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 15 - Tax Increment for Development
Section 5-15-2 - Findings and purpose.
Section 5-15-4 - Resolution for formation of a district.
Section 5-15-5 - Contents of tax increment development plan.
Section 5-15-6 - Notice of public hearing.
Section 5-15-7 - Public hearing.
Section 5-15-8 - Formation determination; election.
Section 5-15-8.1 - Posting of notices.
Section 5-15-9 - Formation of a district.
Section 5-15-10 - Governance of the district.
Section 5-15-11 - Records; open meetings.
Section 5-15-12 - District powers; limitations.
Section 5-15-13 - Authority to impose property tax levy.
Section 5-15-14 - Property tax levy rescission election.
Section 5-15-15 - Tax increment financing; gross receipts tax increment to secure bonds.
Section 5-15-15.1 - Filing fee for evaluating use of state gross receipts tax increment.
Section 5-15-16 - Bonding authority; gross receipts tax increment.
Section 5-15-17 - Property tax increment bonds.
Section 5-15-18 - Bonding authority; property tax increment.
Section 5-15-19 - Refunding bonds.
Section 5-15-20.1 - Debt service reserve account.
Section 5-15-22 - Exemption from taxation.
Section 5-15-23 - Protection from impairment.
Section 5-15-24 - Tax increment accounting procedures.
Section 5-15-25.1 - Base year revision; resolution; comment period; submission of materials.
Section 5-15-25.2 - Base year revision; approval.
Section 5-15-25.3 - Base year revision; effect.
Section 5-15-26 - Termination of tax increment development district.