reglab/housing_qa huggingface dataset:
NM Stat § 5-15-25 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|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 eliminated from the tax increment development area only following a hearing conducted upon notice given to the owners of land in the tax increment development area in the manner prescribed for the formation hearing, adoption of a resolution of intention to do so by the district board, a determination by the owners of real property within the district to eliminate the area and voter approval by the qualified electors as provided in the Local Election Act [6-9-1 to 6-9-6 NMSA 1978] and the Tax Increment for Development Act. Real property within the tax increment development area that is subject to the lien of property taxes, special levies or other charges imposed pursuant to the Tax Increment for Development Act shall not be eliminated from the district while there are bonds outstanding that are payable by those taxes, special levies or charges.B. Following formation of a district, an area may be added to the district upon a determination by the owners of real property in the proposed additional area and the approval of the qualified electors residing therein, as well as a determination by the owners of real property in the district and approval of the qualified electors, as provided in the Local Election Act and the Tax Increment for Development Act.C. The district board, following a hearing conducted upon notice given to the owners of real property located in the district in the manner prescribed for the formation hearing, may, subject to the approval of the governing body that approved the district's tax increment development plan, amend the tax increment development plan in any manner that it determines will not substantially reduce the benefits to be received by any land in the district from the public infrastructure on completion of the work to be performed under the general plan. A determination by the owners and an election shall not be required solely for the purposes of this subsection. History: Laws 2006, ch. 75, § 25; 2019, ch. 212, § 207. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, provided that the modification of a tax increment development area be made by a determination by the owners of real property within the district as provided in the Local Election Act; in Subsection A, after "by the district board,", added "a determination by the owners of real property within the district to eliminate the area", and after "as provided in", added "the Local Election Act and"; in Subsection B, after "as well as", added "a determination by", and after "qualified electors,", deleted "in the same manner as required for the formation of a district" and added "as provided in the Local Election Act and the Tax Increment for Development Act"; and in Subsection C, after "general plan.", deleted "An" and added "A determination by the owners and an".
NM Stat § 5-15-25.1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-25.1 - Base year revision; resolution; comment period; submission of materials.

A. A district may revise the base year that the district uses to determine its gross receipts tax increment. To initiate the process of revising its base year, a district board shall: (1) adopt a resolution declaring that intent; and (2) forward copies of the adopted resolution to the secretary of taxation and revenue, the secretary of finance and administration, the developer and the local governments that have dedicated a tax increment to the district. B. The taxation and revenue department, the department of finance and administration, the developer and the local governments that have dedicated a tax increment to the district may submit written comments to the district with copies sent to the state board of finance for fifteen days after receiving a copy of a district board's resolution indicating the board's intent to revise the base year used to determine the district's gross receipts tax increment. C. No more than forty-five days after adopting the resolution declaring the intent to revise the base year that the district uses to determine its gross receipts tax increment, the district board shall submit to the state board of finance and send copies to the developer and any local government that has dedicated a tax increment to the district: (1) a copy of the resolution; (2) all comments on the matter that the district received from the taxation and revenue department, the department of finance and administration, the developer and the local governments that have dedicated a tax increment to the district; and (3) any other related documentation. D. As used in this section, "developer" means the owner or developer who has entered into an agreement pursuant to Subsection A of Section 5-15-4 NMSA 1978 with the governing body that formed the district or the owner's or developer's successors or assigns. History: Laws 2014, ch. 11, § 1. ANNOTATIONSEmergency clauses. — Laws 2014, ch. 11, § 4, contained an emergency clause and was approved March 5, 2014.
NM Stat § 5-15-25.2 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-25.2 - Base year revision; approval.

A. The state board of finance may approve the revision of the base year used to determine a district's gross receipts tax increment: (1) once during the lifetime of the district; (2) if the revised year is a calendar year that is completed; (3) if no gross receipts tax increment bonds attributable to the district have been issued; (4) if there is no unresolved objection to the revision by the developer or by a local government that has dedicated a tax increment to the district; and (5) upon a finding that the revision is reasonable and in the best interest of the state. B. If the state board of finance approves the revision of the base year used to determine a district's gross receipts tax increment, the state board of finance shall notify the district, the secretary of taxation and revenue, the developer and the local governments that have dedicated a tax increment to the district. C. As used in this section, "developer" means the owner or developer who has entered into an agreement pursuant to Subsection A of Section 5-15-4 NMSA 1978 with the governing body that formed the district or the owner's or developer's successors or assigns. History: Laws 2014, ch. 11, § 2. ANNOTATIONSEmergency clauses. — Laws 2014, ch. 11, § 4, contained an emergency clause and was approved March 5, 2014.
NM Stat § 5-15-25.3 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-25.3 - Base year revision; effect.

A. Upon notice of the approval of a revision of the base year used to determine a district's gross receipts tax increment, the district shall: (1) return to the taxation and revenue department any gross receipts tax increment credited to the period between the time that the revenue collection began and the end of the revised base year and distributed to the district; (2) update the district tax increment development plan to reflect the revision; and (3) file with the clerk of the governing body that formed the district the revised tax increment development plan. B. Upon receipt of the revenue identified in Paragraph (1) of Subsection A of this section, the taxation and revenue department shall remit to the taxing entities that have dedicated a gross receipts tax increment to the district an amount of that revenue in proportion to the amount of gross receipts tax increment attributable to their dedication. History: Laws 2014, ch. 11, § 3. ANNOTATIONSEmergency clauses. — Laws 2014, ch. 11, § 4, contained an emergency clause and was approved March 5, 2014.
NM Stat § 5-15-26 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-26 - Termination of tax increment development district.

A. A district shall be terminated by a resolution of the district board that all of the following conditions exist: (1) all improvements owned by the district have been, or provision has been made for all improvements to be, conveyed to the municipality or county in which the district is located; (2) either the district does not have any outstanding bond obligations or the municipality or county has assumed all of the outstanding bond obligations of the district; and (3) all obligations of the district pursuant to any agreement with the municipality or county have been satisfied. B. Property in the district that is subject to the lien of district taxes shall remain subject to the lien for the payment of bonds, notwithstanding termination of the district. The district shall not be terminated if any bonds of the district remain outstanding unless an amount of money sufficient, together with investment income thereon, to make all payments due on the bonds either at maturity or prior redemption has been deposited with a trustee or escrow agent and pledged to the payment and redemption of the bonds. The district may continue to operate after termination only as needed to collect money and make payments on any outstanding bonds. History: Laws 2006, ch. 75, § 26. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-27 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|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 entity approves a dedication or increase in the dedication of a gross receipts tax increment to a district, the state board of finance or the taxing entity shall notify the taxation and revenue department of that approval at least one hundred twenty days before the effective date of the dedication or increase in the dedication; provided that the effective date of the dedication by the state board of finance is on or after the date the bonds are approved by the legislature pursuant to Section 5-15-21 NMSA 1978.B. In regard to a dedication of a gross receipts tax increment attributable to the state gross receipts tax, if the approval required pursuant to Section 5-15-21 NMSA 1978 has not occurred when the notice pursuant to Subsection A of this section is made, the state board of finance shall include in the notice that legislative approval is needed prior to a distribution pursuant to Section 7-1-6.54 NMSA 1978 attributable to the state gross receipts tax can be made. Upon approval pursuant to Section 5-15-21 NMSA 1978, the state board of finance shall notify the department of the approval.History: Laws 2006, ch. 75, § 27; 2019, ch. 275, § 7. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, clarified that the effective date of a dedication of gross receipts tax made by the state board of finance or taxing entity cannot be before the date of legislative approval pursuant to Section 5-15-21 NMSA 1978, and required the state board of finance or a taxing entity to indicate in its notice that before any distribution attributable to the state gross receipts tax increment is made to a tax increment development district, legislative approval of the gross receipts tax increment bonds is required; in Subsection A, after "increase in the dedication", added "provided that the effective date of the dedication by the state board of finance is on or after the date the bonds are approved by the legislature pursuant to Section 5-15-21 NMSA 1978"; and added Subsection B.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.
NM Stat § 5-15-28 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-28 - Bond term expiration.

The terms of bonds issued pursuant to the Tax Increment for Development Act for a district, including refunding bonds, shall expire not more than twenty-five years after the date that the first bonds are issued for that district. History: Laws 2006, ch. 75, § 28. ANNOTATIONSEmergency clause. — Laws 2006, ch. 75, § 36 contained an emergency clause and was approved March 6, 2006.
NM Stat § 5-15-29 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15 - Tax Increment for Development|Section 5-15-29 - Report required.

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. ANNOTATIONSEffective 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.
NM Stat § 5-15A-1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15A - Mesa del Sol Projects|Section 5-15A-1 - Authorization of issuance of bonds.

Pursuant to the provisions of Section 5-15-21 NMSA 1978, the legislature authorizes the issuance of bonds not to exceed five hundred million dollars ($500,000,000) in net proceeds as adjusted for inflation, secured by a gross receipts tax increment attributed to the imposition of the state gross receipts tax for the Mesa del Sol tax increment development project, subject to (1) the determination that has been made by the New Mexico finance authority that the proceeds of the bonds issued pursuant to this authorization will be used for the Mesa del Sol tax increment development project in accordance with the development plan, (2) the review by the New Mexico finance authority of the master indenture prior to issuance of any bonds and (3) the review by the New Mexico finance authority of any proposed amendments to the master indenture prior to the issuance of any bonds subsequent to such amendments. History: Laws 2007, ch. 310, § 1 and Laws 2007, ch. 313, § 1. ANNOTATIONSEmergency clause. — Laws 2007, ch. 310, § 4 and Laws 2007, ch. 313, § 4 contained an emergency clause and were approved April 2, 2007. Compiler's notes. — Laws 2007, ch. 310, § 1 and Laws 2007, ch. 313, § 1 enacted identical laws. Both were compiled as 5-15A-1 NMSA 1978.
NM Stat § 5-15A-2 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15A - Mesa del Sol Projects|Section 5-15A-2 - Duration of authorization.

The duration of the authorization for issuance of bonds in this act is unlimited, unless and until this act is repealed or modified by the legislature. History: Laws 2007, ch. 310, § 2 and Laws 2007, ch. 313, § 2. ANNOTATIONSEmergency clause. — Laws 2007, ch. 310, § 4 and Laws 2007, ch. 313, § 4 contained an emergency clause and were approved April 2, 2007. Compiler's notes. — Laws 2007, ch. 310, § 2 and Laws 2007, ch. 313, § 2 enacted identical laws. Both were compiled as 5-15A-2 NMSA 1978.
NM Stat § 5-15A-3 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15A - Mesa del Sol Projects|Section 5-15A-3 - Certain capital projects prohibited.

A. The legislature shall not approve or authorize any capital outlay projects within a Mesa del Sol tax increment development district during the period that any bonds issued pursuant to Section 1 [5-15A-1 NMSA 1978] of this act are outstanding for that specific district, except for those buildings or facilities that are owned by the state or one of its agencies, institutions or political subdivisions and that are: (1) public school buildings or facilities; (2) higher education buildings or facilities; (3) cultural buildings or facilities; (4) buildings or facilities used for public safety; or (5) buildings used for other public purposes. B. Nothing in this section prohibits the legislature from authorizing expenditures, pursuant to law, for economic development projects within a specific Mesa del Sol tax increment development district for which any tax increment development bonds are outstanding. History: Laws 2007, ch. 310, § 3 and Laws 2007, ch. 313, § 3. ANNOTATIONSEmergency clause. — Laws 2007, ch. 310, § 4 and Laws 2007, ch. 313, § 4 contained an emergency clause and were approved April 2, 2007. Compiler's notes. — Laws 2007, ch. 310, § 3 and Laws 2007, ch. 313, § 3 enacted identical laws. Both were compiled as 5-15A-3 NMSA 1978.
NM Stat § 5-15B-1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15B - Taos Ski Valley Projects|Section 5-15B-1 - Authorization of issuance of bonds.

The legislature authorizes the issuance of bonds not to exceed forty-four million dollars ($44,000,000) in net proceeds as adjusted for inflation, secured by tax increments authorized pursuant to the Tax Increment for Development Act [Chapter 5, Article 15 NMSA 1978] to be pledged to pay the principal of and interest on the bonds, including a gross receipts tax increment attributed to the imposition of the state gross receipts tax within the village of Taos Ski Valley tax increment development district, subject to the review and approval by the New Mexico finance authority of: A. the master indenture prior to issuance of any bonds; and B. any amendments to the master indenture prior to issuance of any bonds after any amendments are made. History: Laws 2015, ch. 83, § 1. ANNOTATIONSEmergency clauses. — Laws 2015, ch. 83, § 5, contained an emergency clause and was approved April 8, 2015.
NM Stat § 5-15B-2 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15B - Taos Ski Valley Projects|Section 5-15B-2 - Duration of authorization.

The duration of the authorization for issuance of bonds in this act shall be twenty-five years from the date of issuance of the first series of tax increment bonds of the district, unless and until this act is repealed or modified by the legislature. History: Laws 2015, ch. 83, § 2. ANNOTATIONSEmergency clauses. — Laws 2015, ch. 83, § 5, contained an emergency clause and was approved April 8, 2015.
NM Stat § 5-15B-3 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15B - Taos Ski Valley Projects|Section 5-15B-3 - Certain capital projects prohibited.

A. The legislature shall not approve or authorize any capital outlay projects within the village of Taos Ski Valley tax increment development district during the period in which any bonds issued by the district pursuant to Section 1 [5-15B-1 NMSA 1978] of this act are outstanding, except for buildings, facilities or infrastructure that are owned by the state or one of its agencies, institutions or political subdivisions and that are: (1) public school buildings or facilities; (2) higher education buildings or facilities; (3) cultural buildings or facilities; (4) buildings, facilities or infrastructure used for public safety; or (5) buildings, facilities or infrastructure used for other public purposes. B. Nothing in this section prohibits the legislature from authorizing expenditures pursuant to law for economic development projects within the village of Taos Ski Valley tax increment development district during the period in which tax increment development bonds are outstanding. History: Laws 2015, ch. 83, § 3. ANNOTATIONSEmergency clauses. — Laws 2015, ch. 83, § 5, contained an emergency clause and was approved April 8, 2015.
NM Stat § 5-15B-4 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 15B - Taos Ski Valley Projects|Section 5-15B-4 - Reduction in state gross receipts tax revenue.

Once the developer of the village of Taos Ski Valley tax increment development project has been fully reimbursed, regardless of the source of reimbursement, for the costs of eligible infrastructure, the village of Taos Ski Valley tax increment development district shall provide to the state board of finance the estimated amount of state gross receipts tax increment revenue required to pay the debt service on the district's outstanding bonds and to meet any required debt-service coverage and reserve requirements specified in the master indenture for any bonds payable from the state gross receipts tax increment. The board shall: A. review that estimate; B. determine: (1) the reduced amount of state gross receipts tax increment revenue necessary each year to meet those requirements; and (2) the reduction to the percentage of dedicated state gross receipts tax increment revenue corresponding to that reduced amount; and C. notify the taxation and revenue department of the amount of that reduction, which shall take effect as soon as practicable after notification. History: Laws 2015, ch. 83, § 4. ANNOTATIONSEmergency clauses. — Laws 2015, ch. 83, § 5, contained an emergency clause and was approved April 8, 2015.
NM Stat § 5-16-1 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 16 - Regional Spaceport District|Section 5-16-1 - Short title.

Sections 1 through 13 [5-16-1 to 5-16-13 NMSA 1978] of this act may be cited as the "Regional Spaceport District Act". History: Laws 2006, ch. 15, § 1. ANNOTATIONSEffective dates. — Laws 2006, ch. 15 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 17, 2006, 90 days after adjournment of the legislature.
NM Stat § 5-16-2 (2021)
2021 New Mexico Statutes|Chapter 5 - Municipalities and Counties|Article 16 - Regional Spaceport District|Section 5-16-2 - Purposes.

The purposes of the Regional Spaceport District Act are to: A. serve the public by providing for the development of a southwest regional spaceport; B. allow multi-jurisdictional cooperation in the creation of a southwest regional spaceport; C. provide for the promotion of the southwest regional spaceport; and D. foster tourism in the cities and counties comprising the district. History: Laws 2006, ch. 15, § 2. ANNOTATIONSEffective dates. — Laws 2006, ch. 15 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 17, 2006, 90 days after adjournment of the legislature.