reglab/housing_qa huggingface dataset:
NM Stat § 5-14-14 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 14 - Civic and Convention Center Funding|Section 5-14-14 - Refunding bonds.

A. A qualified municipality having issued revenue bonds as authorized in the Civic and Convention Center Funding Act may issue refunding revenue bonds payable from pledged revenues authorized for the payment of revenue bonds at the time of the refunding or at the time of the issuance of the bonds being refunded as the governing body of the qualified municipality may determine, notwithstanding that the revenue sources or the pledge of such revenues or both are thereby modified. B. Refunding bonds may be issued for the purpose of refinancing, paying and discharging all or a part of outstanding bonds of any one or more outstanding bond issues: (1) for the acceleration, deceleration or other modification of the payment of the obligations, including any capitalization of any interest in arrears or about to become due for any period not exceeding one year from the date of the refunding bonds; (2) for the purpose of reducing interest costs or effecting other economies; (3) for the purpose of modifying or eliminating restrictive contractual limitations pertaining to the issuance of additional bonds or otherwise concerning the outstanding bonds; or (4) for any combination of the purposes specified in Paragraphs (1) through (3) of this subsection. C. The interest on a bond refunded shall not be increased to a rate in excess of the rate authorized in the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978] and shall be paid as authorized in that act. D. Refunding bonds for any other purpose permitted by the Civic and Convention Center Funding Act may be issued separately or issued in combination in one series or more. E. Except as otherwise provided in the Civic and Convention Center Funding Act, refunding bonds authorized in that act shall be issued in accordance with the provisions of Sections 3-31-10 and 3-31-11 NMSA 1978. History: Laws 2003, ch. 374, § 14.
NM Stat § 5-14-15 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 14 - Civic and Convention Center Funding|Section 5-14-15 - Penalties.

A local governmental entity shall by ordinance provide for penalties by creating a misdemeanor and imposing a fine of not more than five hundred dollars ($500) or imprisonment for not more than ninety days or both for a violation by any person of the provisions of the convention center fee ordinance for a failure to pay the fee or to remit the proceeds thereof to the local governmental entity. History: Laws 2003, ch. 374, § 15.
NM Stat § 5-15-1 (2021)
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 the "Tax Increment for Development Act". History: Laws 2006, ch. 75, § 1; 2009, ch. 179, § 1. ANNOTATIONSThe 2009 amendment, effective June 19, 2009, changed the reference to the act to the chapter and article of NMSA 1978.
NM Stat § 5-15-2 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-2 - Findings and purpose.

A. The purpose of the Tax Increment for Development Act is to create a mechanism for providing gross receipts tax financing and property tax financing for public infrastructure for the purpose of supporting economic development and job creation. B. The legislature finds and declares that the powers conferred by the Tax Increment for Development Act are for public uses and purposes for which public money may be expended and the public power exercised, and that it is necessary and in the public interest for the provisions enacted in the Tax Increment for Development Act to be declared as a matter of legislative determination. History: Laws 2006, ch. 75, § 2. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-5 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-5 - Contents of tax increment development plan.

A tax increment development plan shall include: A. a map depicting the geographical boundaries of the area proposed for inclusion within the tax increment development area; B. the estimated time necessary to complete the tax increment development project; C. a description and the estimated cost of all public improvements proposed for the tax increment development project; D. whether it is proposed to use gross receipts tax increment bonds or property tax increment bonds or both to finance all or part of the public improvements; E. the estimated annual gross receipts tax increment to be generated by the tax increment development project and the portion of that gross receipts tax increment to be allocated during the time necessary to complete the payment of the tax increment development project; F. the estimated annual property tax increment to be generated by the tax increment development project and the portion of that property tax increment to be allocated during the time necessary to complete the payment of the tax increment development project; G. the general proposed land uses for the tax increment development project; H. the number and types of jobs expected to be created by the tax increment development project; I. the amount and characteristics of workforce housing expected to be created by the tax increment development project; J. the location and characteristics of public school facilities expected to be created, improved, rehabilitated or constructed by the tax increment development project; K. a description of innovative planning techniques, including mixed-use transit-oriented development, traditional neighborhood design or sustainable development techniques, that are deemed by the governing body to be beneficial and that will be incorporated into the tax increment development project; and L. the amount and type of private investment in each tax increment development project. History: Laws 2006, ch. 75, § 5. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-7 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-7 - Public hearing.

A. At a public hearing conducted pursuant to the Tax Increment for Development Act, the governing body shall hear all relevant evidence and testimony and make findings. A record of the hearing shall be kept and may consist of a transcription by a court reporter, an electronic recording or minutes taken by a designated person. The record shall be preserved in the official records of the governing body and shall be open to public inspection pursuant to the Inspection of Public Records Act [Chapter 14, Article 2 NMSA 1978].B. Testimony at a hearing is not required to be given under oath.C. At the conclusion of a hearing, the governing body shall determine whether the tax increment development district should be formed based upon the interests, convenience or necessity of the owners, the residents of the proposed tax increment development district and the residents of the municipality or county in which the proposed tax increment development district is to be located. The governing body shall make the following findings before adopting a resolution to approve the formation of a district:(1) the tax increment development plan reasonably protects the interests of the governing body in meeting its goals to support:(a) job creation;(b) workforce housing;(c) public school facility creation and improvement, including the creation and improvement of facilities for charter schools; and(d) underdeveloped area or historical area redevelopment;(2) the tax increment development plan demonstrates elements of innovative planning techniques, including mixed-use transit-oriented development, traditional neighborhood design or sustainable development techniques, that are deemed by the governing body to benefit community development;(3) the tax increment development plan incorporates sustainable development considerations; and(4) the tax increment development plan conforms to general or long-term planning of the governing body.D. If the governing body determines that the district should be formed, it shall:(1) adopt a resolution ordering that the tax increment development district be formed; (2) order that a formation determination among the owners of real property within the proposed district be conducted or declare that the formation determination is waived pursuant to Subsection B of Section 5-15-8 NMSA 1978; and(3) set the matter for an election or declare that an election is canceled pursuant to Subsection I of Section 5-15-8 NMSA 1978. History: Laws 2006, ch. 75, § 7; 2019, ch. 212, § 200.ANNOTATIONSThe 2019 amendment, effective April 3, 2019, provided that a formation determination be ordered when a governing body determines that a tax increment development district should be formed; in Subsection D, added paragraph designations "(1)" and "(3)" and new paragraph D(2), and in Paragraph D(3), after "declare that an election is", deleted "waived, as provided in the Tax Increment for Development Act" and added "canceled pursuant to Subsection I of Section 5-15-8 NMSA 1978".
NM Stat § 5-15-8.1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-8.1 - Posting of notices.

For any election conducted pursuant to the Tax Increment for Development Act, in addition to the notice requirements set forth in Section 5-15-8 NMSA 1978, the owners shall ensure that notices shall be posted in three conspicuous public places within the boundaries of the district not less than twenty days before the first day for voting in the election.History: Laws 2019, ch. 212, § 275. ANNOTATIONSEmergency clauses. — Laws 2019, ch. 212, § 286, contained an emergency clause and was approved April 3, 2019.
NM Stat § 5-15-9 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-9 - Formation of a district.

A. If the formation of the tax increment development district is approved in accordance with the provisions of Section 5-15-8 NMSA 1978, the governing body shall deliver a copy of the resolution ordering formation of the tax increment development district to each of the following persons or entities:(1) the county assessor, the county treasurer and the clerk of the county in which the district is located;(2) the school district within which any portion of the property located within a tax increment development area lies;(3) any other taxing entities within which any portion of the property located within a tax increment development area lies;(4) the taxation and revenue department;(5) the local government division of the department of finance and administration; and(6) the director of the legislative finance committee.B. A notice of the formation showing the number and date of the resolution and giving a description of the land included in the district shall be recorded with the clerk of the county in which the district is located.C. A tax increment development district shall be a political subdivision of the state, separate and apart from a municipality or county. History: Laws 2006, ch. 75, § 9; 2009, ch. 179, § 4; 2017, ch. 143, § 1; 2019, ch. 212, § 202. ANNOTATIONSCompiler's notes. — Senate Bill 67, enacted by the Fifty-Third Legislature, First Session, 2017, was vetoed by the governor on March 14, 2017. Pursuant to the First Judicial District Court's decision in State ex rel. New Mexico Legislative Council v. Honorable Susana Martinez, Governor of the State of New Mexico et al., D-101-CV-2017-01550, and affirmed by S.Ct. Order No. S-1-SC-36731, on April 25, 2018, which held that Article IV, Section 22 of the New Mexico Constitution requires that objections must accompany a returned bill, Senate Bill 67 was chaptered into law by the Secretary of State. The 2019 amendment, effective April 3, 2019, required the formation of a tax increment development district to be approved in accordance with the provisions of Section 5-15-8 NMSA 1978; in Subsection A, after "approved", deleted "by a majority of the voters casting votes at the election, or if an election is held by vote of the owners of property within the district or proposed district" and added "in accordance with the provisions of Section 5-15-8 NMSA 1978".The 2017 amendment, effective June 16, 2017, required that the treasurer of the county in which a tax increment development district is formed be notified of that formation; and in Paragraph A(1), after "the county assessor", added "the county treasurer". The 2009 amendment, effective June 19, 2009, added Paragraph (6) of Subsection A.
NM Stat § 5-15-11 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-11 - Records; open meetings.

A. A district shall keep the following records, which shall be open to the public: (1) minutes of all meetings of the district board; (2) all resolutions; (3) accounts showing all money received and disbursed; (4) the annual budget; and (5) all other records required to be maintained by law. B. A district board shall appoint a clerk and treasurer for the district. C. All meetings of a district shall be open meetings held in accordance with the Open Meetings Act [Chapter 10, Article 15 NMSA 1978]. History: Laws 2006, ch. 75, § 11. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-13 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-13 - Authority to impose property tax levy.

A district has the power to establish a property tax levy upon real property located within the tax increment development area, with the following limitations:A. the maximum property tax levy a district may impose is five dollars ($5.00) on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978], which may be used for operation, maintenance and capital improvements, in furtherance of the purposes of the Tax Increment for Development Act;B. a district may impose a property tax levy only after authorization through a determination made by the owners of real property in the district and by a majority of votes cast by the qualified resident electors of a district in an election held in accordance with the Local Election Act [Chapter 1, Article 22 NMSA 1978] and the Tax Increment for Development Act; andC. a property tax levy imposed by a district shall not be effective for more than four years.History: Laws 2006, ch. 75, § 13; 2019, ch. 212, § 204. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, provided that a district may impose a property tax levy only after authorization through a determination by the owners of real property in the district in accordance with the Local Election Act and the Tax Increment for Development Act; in Subsection B, after "authorization", added "through a determination made by the owners of real property in the district and", and after "accordance with the", added "Local Election Act and the".
NM Stat § 5-15-14 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-14 - Property tax levy rescission election.

A. A property tax levy imposed by a district may be rescinded within the four-year period during which a property tax levy imposed by a district is effective if:(1) thirty-three and one-third percent of the number of persons who voted in the election for the imposition of that property tax levy sign a petition to rescind the property tax levy; and (2) each person who signs the petition is a qualified elector of the district or an owner of real property within the tax increment development area.B. The petition shall be filed with the district board for verification of the signatures, as to both number and qualifications of the persons signing. If the district board verifies that the petition contains the requisite number of signatures by persons qualified to sign the petition pursuant to Subsection A of this section, the question of rescission of the property tax levy imposed by the district shall be placed on the ballot for:(1) a special election held in accordance with the special election procedures of the Election Code [Chapter 1 NMSA 1978] that is called and held within ninety days; provided that the date does not conflict with the provisions of Section 1-24-1 NMSA 1978; or (2) the next occurring regular local election or general election if that election is to be held within less than one hundred twenty days.C. A petition for rescission of a property tax levy imposed by a district may be submitted only once each year during the four-year period during which a property tax levy by a district is effective. History: Laws 2006, ch. 75, § 14; 2019, ch. 212, § 205. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, provided that the date for a special election on the question of rescission of a property tax levy must not conflict with the provisions of Section 1-24-1 NMSA 1978; in Subsection B, in Paragraph B(1), after "ninety days;", added "provided that the date does not conflict with the provisions of Section 1-24-1 NMSA 1978", and in Paragraph B(2), after "occurring", added "regular local election or", and after "within less than", deleted "ninety" and added "one hundred twenty".
NM Stat § 5-15-15.1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|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 tax increment attributable to the state gross receipts tax by the state board of finance pursuant to Section 5-15-15 NMSA 1978, a tax increment development district shall submit a filing fee to the state board of finance to pay the reasonable costs, as determined by the department of finance and administration, of evaluating the tax increment development plan and the district's requested use of a state gross receipts tax increment. History: 1978 Comp., § 5-15-15.1, as enacted by Laws 2019, ch. 275, § 3. ANNOTATIONSEffective dates. — Laws 2019, ch. 275, § 11 made Laws 2019, ch. 275, § 3 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.
NM Stat § 5-15-20.1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-20.1 - Debt service reserve account.

After the retirement of all bonds issued pursuant to the tax increment development plan, any balance in a debt service reserve account established for the payment of those bonds shall be paid to the governments that have dedicated a tax increment to the district in proportion to the amount of tax increment attributable to their dedication. History: Laws 2009, ch. 179, § 8. ANNOTATIONSEffective dates. — Laws 2009, ch. 179 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the adjournment of the legislature.
NM Stat § 5-15-21 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|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 Increment for Development Act, prior to a district board issuing bonds that are issued in whole or in part against a gross receipts tax increment attributable to the state gross receipts tax within a district and before a distribution attributable to the state gross receipts tax is made pursuant to Section 7-1-6.54 NMSA 1978, the New Mexico finance authority shall review the proposed issuance of the bonds and determine that the proceeds of the bonds will be used for a tax increment development project in accordance with the district's tax increment development plan and present the proposed issuance of the bonds to the legislature for approval.B. The issuance of the bonds and the maximum amount of bonds to be issued shall be specifically authorized by law. History: Laws 2006, ch. 75, § 21; 2009, ch. 179, § 7; 2019, ch. 275, § 6. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, clarified that legislative approval is required not only prior to the issuance of gross receipts tax increment bonds, but also before a distribution is made pursuant to Section 7-1-6.54 NMSA 1978; in Subsection A, after "within a district", added "and before a distribution attributable to the state gross receipts tax is made pursuant to Section 7-1-6.54 NMSA 1978".Applicability. — Laws 2019, ch. 275, § 10 provided that the provisions of this act shall not apply to dedications of gross receipts tax increments by the state board of finance made prior to July 1, 2019.The 2009 amendment, effective June 19, 2009, after "district board issuing bonds", added "that are issued in whole or in part"; and in Subsection B, after "issuance of the bonds", added "and the maximum amount of bonds to be issued".
NM Stat § 5-15-22 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-22 - Exemption from taxation.

The bonds authorized by the Tax Increment for Development Act and the income from the bonds or any other instrument executed as security for the bonds shall be exempt from all taxation by the state or any political subdivision of the state. History: Laws 2006, ch. 75, § 22. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-23 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-23 - Protection from impairment.

If the provisions set forth in the Tax Increment for Development Act impair the ability of a municipality, county or other public body to meet its principal or interest payment obligations for revenue bonds or general obligation bonds outstanding prior to the effective date of the Tax Increment for Development Act that are secured by the pledge of all or part of the municipality, county or other public body's revenue gross receipts tax or property tax, then the amount otherwise payable to the district pursuant to the Tax Increment for Development Act shall be paid instead to the municipality, county or public body in an amount sufficient to meet any required payment. History: Laws 2006, ch. 75, § 23. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-24 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-24 - Tax increment accounting procedures.

A district board shall separately account for all revenues and indebtedness based on gross receipts tax increments and property tax increments. The district board shall individually account for all gross receipts tax increments. History: Laws 2006, ch. 75, § 24. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.