If the tax increment method of financing enterprise zone projects is used, the base value shall be the value used in calculating the limit of general obligation indebtedness imposed by the constitution of New Mexico and the statutes of New Mexico.
History: Laws 1993, ch. 33, ยง 14.
Structure New Mexico Statutes
Chapter 5 - Municipalities and Counties
Section 5-9-4 - Designation of enterprise zones; revocation of designation.
Section 5-9-5 - Eligibility requirements.
Section 5-9-6 - Enterprise zone plan; incentives and initiatives.
Section 5-9-7 - Administration.
Section 5-9-8 - Evaluation and reporting requirements.
Section 5-9-9 - State agency cooperation; business incentives.
Section 5-9-10 - Tax increment method of financing.
Section 5-9-11 - Tax increment procedures.
Section 5-9-12 - Enterprise zone fund; creation; use.
Section 5-9-13 - Tax increment method approval.
Section 5-9-14 - Tax increment method; base value for distribution.