New Mexico Administrative Code

Explanatory note: On March 11, 2020, in response to the presence in New Mexico of a highly contagious respiratory novel coronavirus disease known as COVID-19, Governor Michelle Lujan Grisham declared that a public health emergency exists in New Mexico under the Public Health Emer…

A. "Full-time-equivalent employee or FTE" is defined as an employee who works an average of 40 hours or more per week from their qualifying date of hire throughout the quarterly qualification period. The hours of employees who work fewer than 40 hours are calculated as proportion…

The maximum employee count in House Bill 11 of "fewer than 75 people employed at any of the business's business locations" for a business to qualify as a recovery entity includes all employees, both full- and part-time employees.

Pursuant to the Local Economic Development Act, the recovery grant shall be accompanied by net new FTE job creation. As part of the initial application, the recovery entity shall estimate the net new FTE to be created from the initial qualifying date of hire through March 31, 202…

New Mexico Opportunity Enterprise and Housing Development Review Board.

A. The board may recommend to the authority that enterprise assistance from the fund should be made available for enterprise development projects as provided by Section 6-34-6, NMSA 1978. B. Enterprise assistance from the fund shall be made only for eligible items, a determined b…

The authority may recommend structured enterprise assistance packages that include opportunity enterprise financing, opportunity enterprise leases, opportunity enterprise loans, or other type of assistance authorized by the authority and the board, if applicable. The structure, t…

Based on the priority and evaluation factors set forth in Sections 8, 9, and 10 above, as well as the requirements of the Act, the board may recommend to the authority enterprise development projects for consideration of enterprise assistance. Board recommendations may be conside…

A. The authority and opportunity enterprise partner awarded enterprise assistance will enter into a contract to establish the terms and conditions of enterprise assistance from the authority. The contract to provide enterprise assistance shall: (1) define the roles and responsibi…

The board will determine which housing development projects to recommend to the authority for housing development assistance from the housing development revolving fund. Board policies shall give priority to projects that: A. demonstrate local support and need, B. create or expan…

A. The board will administer an outreach program to local governments and potential housing development partners for the purpose of making recommendations to the authority regarding housing assistance, and to notify applicants that housing development project proposals are being …

A. The board may recommend to the authority that housing development assistance from the housing development revolving fund should be made available for housing development projects as provided by Section 6- 34-13.3, NMSA 1978. B. Housing development assistance from the housing d…

The authority may recommend structured housing development assistance packages that include housing development loans. The structure, terms and conditions will be determined by the authority.

Based on the priority and evaluation factors set forth in Sections 15, 16, and 17 above, as well as the requirements of the act, the board may recommend to the authority housing development projects for consideration of housing development assistance. Board recommendations may be…

All persons or entities applying for enterprise assistance under the opportunity enterprise revolving fund and housing development assistance under the housing development revolving fund administered by the New Mexico finance authority, Sections 6-34-8, 6-34-12, 6-34-13.1 and 6-3…

Any applicant affected by a decision of the board may request reconsideration of the decision of the board by notifying the board in writing within 15 days following the meeting at which the decision was made. Notice of a decision made in an open meeting of the board is deemed to…

Sections 6-34-6 and 6-34-7, NMSA 1978.

Permanent.

April 25, 2023, unless a later date is cited at the end of a section.

A. Section 6-34-3, NMSA 1978, provides that the authority may adopt separate rules to administer the opportunity enterprise revolving fund and the housing development revolving fund to originate enterprise assistance and housing development assistance for projects recommended by …

A. "Act" means the Opportunity Enterprise and Housing Development Act, Sections 6-34-1 through 6-34-15, NMSA 1978, as the same may be amended and supplemented. B. "Affordable housing infrastructure project" means infrastructure projects needed to support housing for low- or moder…

The board will develop and consider a variety of factors in reviewing and evaluating enterprise development project proposals to determine which enterprise development projects to recommend to the authority for enterprise assistance from the fund. Board policies shall give priori…

A. The board and the department will administer an outreach program to local governments and potential opportunity enterprise partners for the purpose of making recommendations to the authority regarding enterprise assistance, and to notify applicants that enterprise development …

Economic Development Department.

All persons or entities applying for Local Economic Development Act funds through the Economic Development Department.

The general management of the Local Economic Development Act (LEDA) program shall be the responsibility of the economic development department as prescribed by governing legislation, Section 5-10-1 NMSA 1978.

Permanent.

June 27, 2023 unless a later date is cited at the end of the section.

Under the Local Economic Development Act, Section 5-10-1 NMSA 1978, the New Mexico economic development department is granted authority to administer grants to local governments (municipality or county) to assist expanding or relocating companies that are qualified entities that …

A. "Qualifying entity" is a corporation, limited liability company, partnership, joint venture, syndicate, or association that is an economic-base employer, also referred to as "company" as defined in Subsection L of Section 5-10-3 NMSA 1978. B. "Economic-base employer" is an emp…

A. Company eligibility: Companies that increase the economic base of New Mexico are eligible to be considered for LEDA funds. The company must manufacture a product in New Mexico or provide a non-retail service with at least fifty percent of total revenues generated from a client…

A. Economic development department role: The economic development department determines company and project eligibility through initial project data intake and vetting prior to invitation to formally apply for LEDA investment funds. Due diligence is conducted throughout the appli…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630.

A. The secretary may delegate authority only when specifically authorized to do so in the Tax Administration Act. Where the words "or secretary's delegate" or "or delegate" do not appear in any section, only the secretary may act. B. Example: As provided in Subsection 7-1-4 B NMS…

A delegation of authority by the secretary to an "employee of the division" or "an employee of the department" as that term is defined in Section 7-1-3 NMSA 1978 is not required to be in writing.

The following persons shall, for purposes of the Tax Administration Act, be considered to be "employees of the department" when acting as agents or authorized to represent or perform services for the department: A. the secretary of the department or an employee of the department …

A person who fits the definition of "taxpayer" under the provisions of Section 7-1-3 NMSA 1978 but who has not registered or been identified under provisions of Section 7-1-12 NMSA 1978 is nonetheless a "taxpayer" subject to the provisions of the Tax Administration Act.

To establish or determine the liability of any taxpayer, to collect any tax or to enforce any statute administered by the department under the Tax Administration Act, the secretary or delegate is authorized to examine and require the production of any pertinent records, books, in…

A. TAXPAYER IDENTIFICATION: (1) The secretary shall cause to be developed and maintained multiple systems for the registration and identification of taxpayers who are subject to taxes or tax acts listed in Section 7-1-2 NMSA 1978 and taxpayers shall comply therewith. The systems …

A. The term "tax" as it is used in Section 7-1-18 NMSA 1978 means the amount of any tax imposed and required to be paid or collected and paid over by any tax act made subject to administration and enforcement under the Tax Administration Act pursuant to the provisions of Section …

As used in Section 7-1-19 NMSA 1978, the term "action or proceeding" means any effort initiated by the secretary or secretary's delegate under the provisions of the Tax Administration Act and shall include the filing of a lien, seizure of property through service of a warrant of …

Every tax return preparer, as that term is defined in Section 7-1-3 NMSA 1978, shall furnish that preparer's identification number with, and sign, each income tax return or claim of refund with respect to income tax that the preparer completes. For the purposes of 3.1.1.18 NMAC, …

This part applies to all taxpayers, their agents and representatives and all persons required to submit a return or information to the taxation and revenue department under any tax, tax act or other law administered and enforced pursuant to the Tax Administration Act.

Section 9-11-6.2 NMSA 1978.

Permanent.

10/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Tax Administration Act.

As used in Section 7-1-71.1 NMSA 1978 and Section 3.1.1.18 NMAC the term "sign" means to affix a name or cause it to be attached using one of the following methods: A. handwritten; B. rubber stamp; C. mechanical device (such as a mechanical pen); D. computer software program; or …

All statutory references in Chapter 3.1 NMAC are to the New Mexico Statutes Annotated 1978 (NMSA 1978) unless otherwise specified.