A tax imposed in a school district as a result of an election under the Public School Buildings Act shall be imposed for one, two, three, four, five or six years. The local school board may direct that such levy be decreased or not made for any year if, in its judgment, the total levy is not necessary for such year and shall direct that the levy be decreased by the amount required if a decrease is required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978.
History: Laws 1983, ch. 163, § 8; 1986, ch. 32, § 29; 2007, ch. 366, § 22; 2019, ch. 212, § 232.
The 2019 amendment, effective April 3, 2019, removed a provision related to the commencement of a tax imposed as a result of an election under the Public School Buildings Act; after "six years", deleted "commencing with the property tax year in which the election was held".
The 2007 amendment, effective July 1. 2007, changed the maximum number of property tax years for imposing the tax from five to six years.
Structure New Mexico Statutes
Article 26 - Public School Buildings
Section 22-26-1 - Short title.
Section 22-26-4 - Authorizing resolution; time limitation.
Section 22-26-5 - Conduct of election; notice; ballot.
Section 22-26-6 - Election results; certification.
Section 22-26-7 - Imposition of tax; limitations.
Section 22-26-8 - Tax to be imposed for a maximum of six years.
Section 22-26-9 - Charter schools; receipt of local property tax revenue.
Section 22-26-10 - Expenditures by charter schools; reports to department.