reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 25 - Public School Capital Improvements › Section 22-25-5 - Conduct of election; notice; ballot.

A. An election on the question of imposing a tax under the Public School Capital Improvements Act shall be conducted as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978].
B. The proclamation authorizing the ballot question or calling for a special election shall include as the question to be submitted to the voters whether a property tax at a rate not to exceed the rate specified in the authorizing resolution should be imposed for the specified number of property tax years not exceeding six years upon the net taxable value of all property allocated to the school district for the capital improvements specified in the authorizing resolution.
C. The ballot shall include the information specified in Subsection B of this section and shall present the voter the choice of voting "for the public school capital improvements tax" or "against the public school capital improvements tax".
History:
1953 Comp., § 77-25-5, enacted by Laws 1975 (S.S.), ch. 5, § 5; 1986, ch. 32, § 22; 1997, ch. 138, § 2; 2003, ch. 147, § 7; 2018, ch. 79, § 94; 2019, ch. 212, § 224.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised the notice provision of the section; in Subsection B, after "The proclamation", deleted "required to be published as notice of the election under Section 1-22-11 NMSA 1978" and added "authorizing the ballot question or calling for a special election".
The 2018 amendment,
effective July 1, 2018, provided that elections on the question of imposing a tax under the Public School Capital Improvements Act shall be held as prescribed in the Local Election Act, and made technical and conforming changes; in Subsection A, after "Public School Capital Improvements Act", deleted "may" and added "shall", after "be held", deleted "in conjunction with a regular school district election or may be conducted as or held in conjunction with a special school district election, but the election shall be held prior to July 1 of the property tax year in which the tax is proposed to be imposed. Conduct of the election shall be", and after "as prescribed in the", deleted "School Election Law for regular and special school district elections" and added "Local Election Act"; and in Subsection B, after "under Section", deleted "1-22-4 or 1-22-5" and added "1-22-11".
The 2003 amendment,
effective April 4, 2003, substituted "proclamation" for "resolution" and "six years" for "four years" in Subsection B.
The 1997 amendment,
effective June 20, 1997, substituted "four years" for "three years" in Subsection B.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 25 - Public School Capital Improvements › Section 22-25-6 - Election results; canvass; certification.

The canvass and certification of the results of an election held on the question of imposition of a public school capital improvements tax shall be as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978] and in addition to the reporting of results as required by the Election Code [Chapter 1, NMSA 1978], and a copy of the certificate of results shall be delivered immediately to the director.
History:
1953 Comp., § 77-25-6, enacted by Laws 1975 (S.S.), ch. 5, § 6; 1977, ch. 246, § 66; 2019, ch. 212, § 225.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, provided that the canvass and certification of the results of an election held on the question of imposition of a public school capital improvements tax shall be as prescribed by the Local Election Act and the reporting requirements of the Election Code; in the section heading, added "canvass"; after "The", added "canvass and", after "shall be", deleted "made in accordance with Section 77-5-16 NMSA 1953" and added "as prescribed in the Local Election Act and in addition to the reporting of results as required by the Election Code", and after "results shall be", deleted "mailed" and added "delivered".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 25 - Public School Capital Improvements › Section 22-25-8 - Tax to be imposed for a maximum of six years.

A tax imposed in a school district as a result of an election under the Public School Capital Improvements Act shall be imposed for a specified number of property tax years not exceeding six years. The local school board may discontinue, by resolution, the Public School Capital Improvements Act tax levy at the end of any property tax year. The local school board shall direct that the Public School Capital Improvements Act tax levy be decreased by the amount required for any year in which the decrease is required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978.
History:
1953 Comp., § 77-25-8, enacted by Laws 1975 (S.S.), ch. 5, § 8; 1976 (S.S.), ch. 31, § 1; 1986, ch. 32, § 24; 1997, ch. 138, § 3; 2003, ch. 147, § 8; 2019, ch. 212, § 227.
ANNOTATIONS
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 Capital Improvements Act; after "not exceeding six years", deleted "commencing with the property tax year in which the election was held".
The 2003 amendment,
effective April 4, substituted "six years" for "four years" in the section heading; substituted "a specified number of property tax years not exceeding six years" for "one, two, three or four years" in the first sentence, and substituted "any property tax year" for "the first or second year of the levy" in the second sentence.
The 1997 amendment,
effective June 20, 1997, substituted "four years" for "three years" in the section heading and "two, three or four years" for "two or three years" in the first sentence.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 25 - Public School Capital Improvements › Section 22-25-10 - Public school capital improvements fund created.

There is created a "public school capital improvements fund." Balances in the fund remaining at the end of a fiscal year shall not revert.
History:
1953 Comp., § 77-25-10, enacted by Laws 1975 (S.S.), ch. 5, § 10; 1976 (S.S.), ch. 31, § 3.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 25 - Public School Capital Improvements › Section 22-25-11 - Expenditures by charter schools; reports to department.

A. No later than December 1 of each year, each locally chartered or state-chartered charter school that expects a state distribution or a distribution of property taxes pursuant to the Public School Capital Improvements Act during the next calendar year shall submit a report to the department and its chartering authority showing the purposes for which the expected distribution will be expended. The department shall review the report and, no later than twenty days after receiving the report, shall advise the charter school if, in its opinion, the proposed expenditures are consistent with law and shall provide a copy of the advice to the local district.
B. No later than January 31 of each year, each locally chartered or state-chartered charter school that received a state distribution or a distribution of property taxes pursuant to the Public School Capital Improvements Act during the preceding calendar year shall submit a report to the department and its chartering authority showing the purposes for which the distribution was expended and the amount expended for each purpose.
History:
Laws 2011, ch. 11, § 1.
ANNOTATIONS
Effective dates.
— Laws 2011, ch. 11 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2011, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-1 - Short title.

Chapter 22, Article 26 NMSA 1978 may be cited as the "Public School Buildings Act".
History:
Laws 1983, ch. 163, § 1; 2007, ch. 366, § 18.
ANNOTATIONS
The 2007 amendment,
effective July 1, 2007, changed the statutory reference to the act.
For article, "No Cake For Zuni: The Constitutionality of New Mexico's Public School Capital Finance System," see 37 N.M.L. Rev. 307 (2007).
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-4 - Authorizing resolution; time limitation.

The resolution authorized under Section 22-26-3 NMSA 1978 shall be adopted within the time frames required by the Election Code [Chapter 1 NMSA 1978] and pursuant to the requirements of the property tax division of the taxation and revenue department.
History:
Laws 1983, ch. 163, § 4; 2019, ch. 212, § 229.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised the time limitation on the adoption of a resolution on the question of imposition of a capital improvements tax; after "authorized under Section", deleted "3 of the Public School Buildings Act" and added "22-26-3 NMSA 1978" and after "shall be adopted", deleted "no later than May 15 in the year in which the tax is proposed to be imposed" and added the remainder of the section.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-5 - Conduct of election; notice; ballot.

A. An election on the question of imposing a tax under the Public School Buildings Act shall be held as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978].
B. The resolution authorizing the ballot question or calling for a special election shall include as the question to be submitted to the voters whether a property tax at a rate not to exceed the rate specified in the authorizing resolution should be imposed for the specified number of property tax years not exceeding six years upon the net taxable value of all property allocated to the school district for capital improvements.
C. The ballot shall include the information specified in Subsection B of this section and shall present the voter the choice of voting "for the public school buildings tax" or "against the public school buildings tax".
History:
Laws 1983, ch. 163, § 5; 1986, ch. 32, § 27; 2007, ch. 366, §21; 2018, ch. 79, § 95; 2019, ch. 212, § 230.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, revised the notice provision of the section; in Subsection B, after "The resolution", deleted "required to be published as notice of the election under Section 1-22-11 NMSA 1978" and added "authorizing the ballot question or calling for a special election".
The 2018 amendment,
effective July 1, 2018, provided that elections on the question of imposing a tax under the Public School Buildings Act shall be held as prescribed in the Local Election Act, and made technical and conforming changes; in Subsection A, after "Public School Buildings Act", deleted "may" and added "shall", after "be held", deleted "in conjunction with a regular school district election or may be conducted as or held in conjunction with a special school district election, but the election shall be held prior to July 1 of the property tax year in which the tax is proposed to be imposed. Conduct of the election shall be", and after "as prescribed in the", deleted "School Election Law for regular and special school district elections" and added "Local Election Act"; and in Subsection B, after "under Section", deleted "1-22-4 or 1-22-5" and added "1-22-11".
Temporary provisions.
— Laws 2018, ch. 79, § 174 provided that references in law to the Municipal Election Code and to the School Election Law shall be deemed to be references to the Local Election Act.
The 2007 amendment,
effective July 1, 2007, changed the maximum number of property tax years for imposing the tax from five to six years.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-6 - Election results; certification.

The certification of the results of an election held on the question of imposition of a public school buildings tax shall be as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978], and in addition to the reporting of results required by the Election Code [Chapter 1 NMSA 1978], a copy of the certificate of results shall be delivered immediately to the secretary.
History:
Laws 1983, ch. 163, § 6; 1993, ch. 226, § 52; 2019, ch. 212, § 231.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, provided that the certification of the results of an election held on the question of imposition of a public school buildings tax shall be as prescribed by the Local Election Act and the reporting requirements of the Election Code; after "shall be", deleted "made in accordance with the School Election Law" and added "as prescribed in the Local Election Act", after "and", added "in addition to the reporting of results required by the Election Code", after "results shall be", deleted "mailed" and added "delivered", and after "immediately to the", deleted "state superintendent" and added "secretary".
The 1993 amendment,
effective July 1, 1993, substituted "the School Election Law" for "Section 22-6-16 NMSA 1978" and "state superintendent" for "director of public school finance".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-7 - Imposition of tax; limitations.

If as a result of an election held in accordance with the Public School Buildings Act a majority of the qualified electors voting on the question votes in favor of the imposition of the tax, the tax rate shall be certified, unless the local school board directs that the tax levy not be made for the year, by the department of finance and administration at the rate specified in the authorizing resolution or at any lower rate required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 upon the rate specified in the authorizing resolution or at any rate lower than the rate required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 if directed by the local school board pursuant to Section 22-26-8 NMSA 1978, and the tax shall be imposed at the rate certified in accordance with the provisions of the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978]. If in any tax year the authorized tax rate under the Public School Buildings Act, when added to the tax rates for servicing debt of the school district and for capital improvements pursuant to the Public School Capital Improvements Act [Chapter 22, Article 25 NMSA 1978], exceeds fifteen dollars ($15.00), or a lower amount that would be required by applying the rate limitation provisions of Section 7-37-7.1 NMSA 1978 to the amount of fifteen dollars ($15.00), on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code, the tax rate under the Public School Buildings Act shall be reduced to an amount that, when added to such additional rates, will equal fifteen dollars ($15.00), or the lower amount that would be required by applying the rate limitation provisions of Section 7-37-7.1 NMSA 1978 to the amount of fifteen dollars ($15.00), on each one thousand dollars ($1,000) of net taxable value of property so allocated to the school district. The revenue produced by the tax and any state distribution resulting to the district under the Public School Buildings Act shall be expended only for capital improvements.
History:
Laws 1983, ch. 163, § 7; 1986, ch. 32, § 28; 1996, ch. 63, § 1.
ANNOTATIONS
The 1996 amendment,
effective May 15, 1996, substituted "fifteen dollars ($15.00)" for "ten dollars ($10.00)" throughout the section.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-8 - Tax to be imposed for a maximum of six years.

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.
ANNOTATIONS
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.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-9 - Charter schools; receipt of local property tax revenue.

If the qualified electors of a school district have voted in favor of the imposition of a property tax as provided in Section 22-26-3 NMSA 1978, the amount of tax revenue to be distributed to each charter school that was included in the resolution shall be determined each year and shall be in the same proportion as the average full-time-equivalent enrollment of the charter school on the first reporting date of the prior school year is to the total such enrollment in the district; provided that, in the case of an approved charter school that had not commenced classroom instruction in the prior school year, the estimated full-time-equivalent enrollment in the first year of instruction, as shown in the approved charter school application, shall be used, subject to adjustment after the first reporting date. Each year, the department shall certify to the county treasurer of the county in which the eligible charter schools in the school district are located the percentage of the revenue to be distributed to each charter school. The county treasurer shall distribute the charter school's share of the property tax revenue directly to the charter school.
History:
Laws 2007, ch. 366, § 23; 2010, ch. 116, § 8; 2019, ch. 212, § 233.
ANNOTATIONS
The 2019 amendment,
effective April 3, 2019, after "If", deleted "in an election held after July 1, 2007".
The 2010 amendment,
effective May 19, 2010, in the first sentence, after "enrollment of the charter school on the", deleted "fortieth day" and added "first reporting date" and after "subject to adjustment after the", deleted "fortieth day" and added "first reporting date".
Temporary provisions.
— Laws 2010, ch. 116, § 9 provided that references in the Public School Code pertaining to the fortieth-day or forty-day report of public school membership or enrollment shall be deemed to be references to the first reporting date, which is the second Wednesday in October; references pertaining to the eightieth-day or eighty-day report of public school membership or enrollment shall be deemed to be references to the second reporting date, which is the second Wednesday in December; and references pertaining to the one-hundred twentieth-day or one-hundred twenty-day report of public school membership or enrollment shall be deemed to be references to the third reporting date, which is the second Wednesday in February.
As the public schools transition from former reporting dates to new reporting dates, the public education department may use any combination of former and new reporting dates as necessary to develop membership and cost projections and budgets for the 2010-2011 school year.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26 - Public School Buildings › Section 22-26-10 - Expenditures by charter schools; reports to department.

A. No later than December 1 of each year, each locally chartered or state-chartered charter school that expects a distribution of property taxes pursuant to the Public School Buildings Act during the next calendar year shall submit a report to the department and its chartering authority showing the purposes for which the expected distribution will be expended. The department shall review the report and, no later than twenty days after receiving the report, shall advise the charter school if, in its opinion, the proposed expenditures are consistent with law and shall provide a copy of the advice to the local district.
B. No later than January 31 of each year, each locally chartered or state-chartered charter school that received a distribution of property taxes pursuant to the Public School Buildings Act during the preceding calendar year shall submit a report to the department and its chartering authority showing the purposes for which the distribution was expended and the amount expended for each purpose.
History:
Laws 2011, ch. 11, § 2.
ANNOTATIONS
Effective dates.
— Laws 2011, ch. 11 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2011, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-1 - Short title.

Chapter 22, Article 26A NMSA 1978 may be cited as the "Public School Lease Purchase Act".
History:
Laws 2007, ch. 173, § 1; 2009, ch. 132, § 2.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, changed the reference to the act to the article and chapter of NMSA 1978.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-2 - Purpose.

The purpose of the Public School Lease Purchase Act is to implement the provision of Article 9, Section 11 of the constitution of New Mexico, as approved by the voters of the state of New Mexico at the general election held in November 2006, which declares that a financing agreement entered into by a school district or a charter school for leasing of a building or other real property with an option to purchase for a price that is reduced according to the payments made by the school district or charter school pursuant to the financing agreement is not a debt if:
A. there is no legal obligation for the school district or charter school to continue the lease from year to year or to purchase the real property; and
B. the agreement provides that the lease shall be terminated if sufficient money is not available to meet the current lease payments.
History:
Laws 2007, ch. 173, § 2.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 173 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-3 - Definitions.

As used in the Public School Lease Purchase Act:
A. "financing agreement" or "lease purchase arrangement" means an agreement for the leasing of a building or other real property with an option to purchase for a price that is reduced according to the payments made, which periodic lease payments composed of principal and interest components are to be paid to the holder of the agreement and pursuant to which the owner of the building or other real property may retain title to or a security interest in the building or other real property and may agree to release the security interest or transfer title to the building or other real property to the school district for nominal consideration after payment of the final periodic lease payment; and
B. "governing body" means:
(1) the governing structure of a charter school, as set forth in its approved charter; or
(2) a local school board as the governing structure of a school district.
History:
Laws 2007, ch. 173, § 3; 2015, ch. 106, § 1.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, clarified the definition of "governing body" in the Public School Lease Purchase Act to include the governing structure of a charter school and a local school board; in Subsection A, after the semicolon, added "and"; deleted former Subsections B and C, relating to the meaning of "local school board" and "school district"; and added new Subsection B.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-4 - Notice of proposed lease purchase arrangement; approval of department.

A. When a governing body determines, pursuant to Subsection B of Section 22-26A-6 NMSA 1978, that a lease purchase arrangement is in the best interest of the school district or the charter school, the governing body shall forward to the department a copy of the proposed lease purchase arrangement and the source of funds that the governing body has identified to make payments due under the lease purchase arrangement.
B. A governing body shall not enter into a lease purchase arrangement without the approval of the department.
History:
Laws 2007, ch. 173, § 4; 2009, ch. 132, § 3; 2015, ch. 106, § 2.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to require a governing body of a charter school or school district to give the public education department notice of a lease purchase agreement when the governing body determines that a lease purchase arrangement is in the best interest of the school district or charter school and requires the governing body to obtain approval from the public education department prior to entering into a lease purchase arrangement; in Subsection A, after "When a", deleted "local school board" and added "governing body", after "best interest of the school district", added "or the charter school", after the third occurrence of "the", deleted "board" and added "governing body", and after "source of funds that the", deleted "local school board" and added "governing body"; and in Subsection B, after "A", deleted "local school board" and added "governing body".
The 2009 amendment,
effective June 19, 2009, in Subsection A, at the beginning of the sentence, deleted former language, which provided that when a school district contemplates entering into a lease purchase arrangement for a building or other real property payable from ad valorem taxes, the local school board was required to give a copy of the proposed lease to the department; and added the new language.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-5.1 - Transfer or assignment of lease purchase arrangement; designation as public property.

A. A holder of a lease purchase arrangement, including any public entity holding a lease purchase arrangement, may secure financing by issuing certificates of participation or otherwise assigning or transferring all or a portion of the lease purchase arrangement.
B. A building or other real property subject to a lease purchase arrangement that has been entered into and approved pursuant to the Public School Lease Purchase Act shall be considered to be a public property.
History:
1978 Comp., § 22-26A-5.1, as enacted by Laws 2009, ch. 132, § 5.
ANNOTATIONS
Effective dates.
— Laws 2009, ch. 132 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.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-7 - Payments under lease purchase arrangements.

A school district or charter school may apply any legally available funds to acquire or improve buildings or other real property subject to a lease purchase arrangement or to the payments due under a lease purchase arrangement, including any combination of:
A. money from the school district's or charter school's general fund;
B. investment income actually received from investments;
C. proceeds from taxes imposed pursuant to the Public School Capital Improvements Act [Chapter 22, Article 25 NMSA 1978] or the Public School Buildings Act [Chapter 22, Article 26 NMSA 1978];
D. loans, grants or lease payments received from the public school capital outlay council pursuant to the Public School Capital Outlay Act [Chapter 22, Article 24 NMSA 1978];
E. state distributions to the school district or charter school pursuant to the Public School Capital Improvements Act;
F. fees or assessments received by the school district;
G. proceeds from the sale of real property and rental income received from the rental or leasing of school district or charter school property;
H. grants from the federal government as assistance to those areas affected by federal activity authorized in accordance with Title 20 of the United States Code, commonly known as "PL 874 funds" or "impact aid";
I. revenues from the tax authorized pursuant to Sections 22-26A-8 through 22-26A-12 NMSA 1978, if proposed by the local school board and approved by the voters; and
J. legislative appropriations.
History:
Laws 2007, ch. 173, § 7; 2009, ch. 132, § 7; 2015, ch. 106, § 5.
ANNOTATIONS
Cross references.
— For PL 874 funds,
see
20 USCS § 7701 et seq.
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to authorize charter schools to apply any legally available funds to acquire or improve buildings or other real property subject to a lease purchase arrangement; in the introductory sentence of the section, after "A school district", added "or charter school"; in Subsection A, after "school district's", added "or charter school's"; in Subsection E, after "school district", added "or charter school".
The 2009 amendment,
effective June 19, 2009, in the introductory sentence, after "funds to", deleted "the payments due on or any prepayment premium payable in connection with lease purchase arrangements as they become due" and added the remainder of the sentence; in Subsection C, after "proceeds from taxes imposed", deleted "to pay school district general obligation bonds or" and after "Building Act;", deleted "or the Educational Technology Equipment Act"; deleted Subsection D, which included revenue from bonds or notes pursuant to the School Revenue Bond Act or the School District Anticipation Notes Act; and added Subsection J.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-8 - Authorization for local school board to submit question of lease purchase tax.

A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax at a rate not to exceed the rate specified in the resolution should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] for the purpose of making payments under lease purchase arrangements. The resolution shall:
A. specify the maximum rate of the proposed tax, which shall not exceed ten dollars ($10.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code;
B. specify the date an election will be held to submit the question of imposition of the tax to the qualified electors of the district; and
C. limit the imposition of the proposed tax to no more than thirty property tax years.
History:
Laws 2007, ch. 173, § 8; 2009, ch. 132, § 8.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, in Subsection A after "specify the", added "maximum" and in Subsection C, changed "twenty" to "thirty".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-9 - Authorizing resolution; time limitation.

The resolution authorized under Section 8 [22-26A-8 NMSA 1978] of the Public School Lease Purchase Act shall be adopted no later than May 15 in the year in which the tax is proposed to be imposed.
History:
Laws 2007, ch. 173, § 9.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 173 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-10 - Conduct of election; notice; ballot.

A. An election on the question of imposing a tax under Sections 22-26A-8 through 22-26A-12 NMSA 1978 shall be held as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978].
B. The resolution required to be published as notice of the election under Section 1-22-11 NMSA 1978 [repealed] shall include as the question to be submitted to the voters whether a property tax at a rate not to exceed the rate specified in the authorizing resolution should be imposed for the specified number of property tax years not exceeding thirty years upon the net taxable value of all property allocated to the school district for payments due under lease purchase arrangements.
C. The ballot shall include the information specified in Subsection B of this section and shall present the voter the choice of voting "for the lease purchase tax" or "against the lease purchase tax".
History:
Laws 2007, ch. 173, § 10; 2009, ch. 132, § 9; 2018, ch. 79, § 96.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. Laws 2019, ch. 212, § 284 repealed 1-22-11 NMSA 1978, effective April 3, 2019
The 2018 amendment,
effective July 1, 2018, provided that elections on the question of imposing a tax under Sections 22-26A-8 through 22-26A-12 NMSA 1978 shall be held as prescribed in the Local Election Act, and made technical and conforming changes; in Subsection A, after "Section 22-26A-12 NMSA 1978", deleted "may" and added "shall", after "be held", deleted "in conjunction with a regular school district election or may be conducted as or held in conjunction with a special school district election, but the election shall be held prior to July 1 of the property tax year in which the tax is proposed to be imposed. Conduct of the election shall be", and after "as prescribed in the", deleted "School Election Law for regular and special school district elections" and added "Local Election Act"; and in Subsection B, after "under Section", deleted "1-22-4 or 1-22-5" and added "1-22-11".
Temporary provisions.
— Laws 2018, ch. 79, § 174 provided that references in law to the Municipal Election Code and to the School Election Law shall be deemed to be references to the Local Election Act.
The 2009 amendment,
effective June 19, 2009, in Subsection B, changed "twenty" to "thirty".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-11 - Election results; certification.

The certification of the results of an election held on the question of imposition of a lease purchase tax shall be made in accordance with the Local Election Act [Chapter 1, Article 22 NMSA 1978], and a copy of the certificate of results shall be mailed immediately to the secretary.
History:
Laws 2007, ch. 173, § 11; 2018, ch. 79, § 97.
ANNOTATIONS
The 2018 amendment,
effective July 1, 2018, provided that elections held on the question of imposition of a lease purchase tax shall be made in accordance with the Local Election Act, and made conforming changes; and changed "School Election Law" to "Local Election Act".
Temporary provisions.
— Laws 2018, ch. 79, § 174 provided that references in law to the Municipal Election Code and to the School Election Law shall be deemed to be references to the Local Election Act.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-12 - Imposition of tax; limitations.

If as a result of an election held in accordance with Sections 22-26A-8 through 22-26A-11 NMSA 1978 a majority of the qualified electors voting on the question votes in favor of the imposition of the tax, the tax rate shall be certified, unless the local school board directs that the tax levy not be made for the year, by the department of finance and administration at the rate specified in the authorizing resolution or at a lower rate directed by the local school board and the tax shall be imposed at the rate certified in accordance with the provisions of the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978]. The revenue produced by the tax shall be expended only for payments due under lease purchase arrangements, as specified in the authorizing resolution.
History:
Laws 2007, ch. 173, § 12; 2009, ch. 132, § 10.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, after "authorizing resolution", added "or at a lower rate directed by the local school board".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-13 - Publication of notice; validation.

A. After adoption of a resolution approving a lease purchase arrangement, the governing body shall publish notice of the adoption of the resolution once in a newspaper of general circulation in the school district in which the governing body's school is located.
B. After the passage of thirty days from the publication required by Subsection A of this section, any action attacking the validity of the proceedings taken by the governing body preliminary to and in the authorization of and entering into the lease purchase arrangement described in the notice is perpetually barred.
History:
Laws 2007, ch. 173, § 13; 2015, ch. 106, § 6.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to require the governing body of a charter school or school district to publish notice of the adoption of a resolution approving a lease purchase arrangement; in Subsection A, after "arrangement, the", deleted "local school board" and added "governing body", and after "circulation in the school district", added "in which the governing body's school is located"; and in Subsection B, after "taken by the", deleted "local school board" and added "governing body".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-14 - Refunding or refinancing lease purchase arrangements.

School districts and charter schools may enter into lease purchase arrangements for the purpose of refunding or refinancing any lease purchase arrangements then outstanding, including the payment of any prepayment premiums thereon and any interest accrued or to accrue to the date of prepayment maturity of the outstanding lease purchase arrangements. Until the proceeds of the lease purchase arrangements issued for the purpose of refunding or refinancing outstanding lease purchase arrangements are applied to the prepayment or retirement of the outstanding lease purchase arrangements, the proceeds may be placed in escrow and invested and reinvested. The interest, income and profits, if any, earned or realized on any such investment may, in the discretion of the governing body, also be applied to the payment of the outstanding lease purchase arrangements to be refunded or refinanced by prepayment or retirement, as the case may be. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and interest, if any, earned or realized on the investments thereof may be returned to the governing body to be used for payment of the refunding or refinancing lease purchase arrangement. If the proceeds from a tax imposed pursuant to Sections 22-26A-8 through 22-26A-12 NMSA 1978 were used as a source of payments for the refunded lease purchase arrangement, the proceeds may continue to be used for the refunding or refinancing lease purchase arrangements without the requirement of an additional election on the issue.
History:
Laws 2007, ch. 173, § 14; 2015, ch. 106, § 7.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to authorize charter schools to enter into lease purchase arrangements for the purpose of refunding or refinancing any outstanding lease purchase arrangements; after "School districts", added "and charter schools", after "in the discretion of the", deleted "school board" and added "governing body", after "investments thereof may be returned to the", deleted "local school board" and added "governing body", after "tax imposed pursuant to Section", deleted "8 through 12 of the Public School Lease Purchase Act" and added "22-26A-8 through 22-26A-12 NMSA 1978".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-15 - Agreement of the state.

The state does hereby pledge to and agree with the holders of any lease purchase arrangement, certificates of participation or other partial interest in a lease purchase arrangement entered into under the Public School Lease Purchase Act that the state will not limit or alter the rights vested in school districts or charter schools to fulfill the terms of any lease purchase arrangement or related sublease arrangement or in any way impair the rights and remedies of the holders of lease purchase arrangements, certificates of participation or other partial interests in lease purchase arrangements until the payments due thereon, and all costs and expenses in connection with any action or proceedings by or on behalf of those holders, are fully met and discharged. School districts and charter schools are authorized to include this pledge and agreement of the state in any lease purchase arrangement or related sublease arrangement.
History:
Laws 2007, ch. 173, § 15; 2009, ch. 132, § 11; 2015, ch. 106, § 8.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to include charter schools in the "Agreement of the State", which provides that the state will not limit or alter the rights vested in school districts or charter schools to fulfill the terms of any lease purchase arrangement or in any way impair the rights and remedies of the holders of lease purchase arrangements; after "vested in school districts", added "or charter schools", and after "School districts", added "and charter schools".
The 2009 amendment,
effective June 19, 2009, after the first occurrence of "purchase arrangement", added "certificates of participation or other partial interest in a lease purchase arrangement"; after the second occurrence of "purchase arrangement", added "or related sublease arrangement"; after the third occurrence of "purchase arrangements", added "certificates of participation or other partial interests in lease purchase arrangements"; and after the fourth occurrence of "purchase arrangement", added "or related sublease arrangement".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-16 - Legal investments for public officers and fiduciaries.

Lease purchase arrangements entered into under the authority of the Public School Lease Purchase Act, including certificates of participation and other partial interests in such lease purchase arrangements, shall be legal investments in which all insurance companies, banks and savings and loan associations organized under the laws of the state, public officers and public bodies and all administrators, guardians, executors, trustees and other fiduciaries may properly and legally invest funds.
History:
Laws 2007, ch. 173, § 16; 2009, ch. 132, § 12.
ANNOTATIONS
The 2009 amendment,
effective June 19, 2009, after "Purchase Act", added "including certificates of participation and other partial interests in such lease purchase arrangements".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-17 - Tax exemption.

The state covenants with the original holder and all subsequent holders and transferees of lease purchase arrangements entered into by governing bodies, in consideration of the acceptance of and payment for the lease purchase arrangements entered into pursuant to the Public School Lease Purchase Act, that lease purchase arrangements, certificates of participation and other partial interests in lease purchase arrangements and the interest income from the lease purchase arrangements, certificates of participation and other partial interests shall at all times be free from taxation by the state, except for estate or gift taxes and taxes on transfers.
History:
Laws 2007, ch. 173, § 17; 2009, ch. 132, § 13; 2015, ch. 106, § 9.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to include charter schools in the state's covenant that lease purchase arrangements will be free from taxation by the state, except for estate or gift taxes and taxes on transfers; after "arrangements entered into by", deleted "local school boards" and added "governing bodies".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-18 - Cumulative and complete authority.

The Public School Lease Purchase Act shall be deemed to provide an additional and alternative method for acquiring buildings and other real property authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as a derogation of any powers now existing. The Public School Lease Purchase Act shall be deemed to provide complete authority for acquiring buildings and other real property and entering into lease purchase arrangements contemplated thereby, and no other approval of any state agency or officer, except as provided therein, shall be required with respect to any lease purchase arrangements, and the governing body acting thereunder need not comply with the requirements of any other law applicable to the issuance of debt by school districts.
History:
Laws 2007, ch. 173, § 18; 2015, ch. 106, § 10.
ANNOTATIONS
The 2015 amendment,
effective July 1, 2015, amended the Public School Lease Purchase Act to provide that this act provides complete authority for acquiring buildings and other real property through lease purchase arrangements, and that the governing body of a charter school or school district need not comply with the requirements of any other law applicable to the issuance of debt; after "arrangements, and the", deleted "local school board" and added "governing body".
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-19 - Repealed.

History:
Laws 2007, ch. 173, § 19; 2009, ch. 132, § 14; repealed by Laws 2015, ch. 106, § 11.
ANNOTATIONS
Repeals.
— Laws 2015, ch. 106, § 11 repealed 22-26A-19 NMSA 1978, as enacted by Laws 2007, ch. 173, § 19, relating to lease purchase arrangements for charter schools, effective July 1, 2015. For provisions of former section,
see
the 2014 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 26A - Public School Lease Purchase Act › Section 22-26A-20 - Liberal interpretation.

The Public School Lease Purchase Act, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect its purposes.
History:
Laws 2007, ch. 173, § 20.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 173 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 22 - Public Schools › Article 27 - Meditation in Public School › Section 22-27-2 - Findings; purpose.

A. The legislature finds that:
(1) the first amendment of the United States constitution protects religious freedom and freedom of speech;
(2) the constitution of New Mexico protects each citizen's rights to worship God according to the dictates of the citizen's conscience; and
(3) the constitution of New Mexico prohibits public schools from requiring attendance or participation by students or teachers in any religious service.
B. The purpose of the Meditation in Public School Act is to foster respect for the educational process and environment and to provide for the right of every public school student to exercise his freedom of conscience on public school grounds without pressure from the state, any public school, teacher, school personnel or other student.
History:
Laws 1995, ch. 72, § 2.