Chapter 5 — Chapter 5

A record shall be made of any public hearing provided for by the Development Fees Act. The record shall be maintained and be made available for public inspection by the municipality or county for at least ten years after the date of the public hearing. History: Laws 1993, ch. 122…

A. An impact fee may be imposed only to pay the following specified costs of constructing capital improvements or facility expansions: (1) estimated capital improvements plan cost; (2) planning, surveying and engineering fees paid to an independent qualified professional who is n…

Act. An impact fee that is in place on the effective date of the Development Fees Act shall be replaced by an impact fee imposed under that act by July 1, 1995. Any municipality or county having an impact fee that has not been replaced under that act by July 1, 1995 shall be liab…

The Development Fees Act does not prohibit, affect or regulate any tax, fee, charge or assessment specifically authorized by state law. History: Laws 1993, ch. 122, § 41.

A moratorium shall not be placed on new development for the sole purpose of awaiting the completion of all or any part of the process necessary to develop, adopt or update impact fees. History: Laws 1993, ch. 122, § 42.

A. The purpose of this section is to: (1) clarify an application of existing authority; (2) provide guidelines for counties and municipalities to regulate transfers of development rights consistent with comprehensive plans; (3) encourage the conservation of ecological, agricultur…

Impact fees shall not be imposed or used to pay for: A. construction, acquisition or expansion of public facilities or assets that are not capital improvements or facility expansions identified in the capital improvements plan; B. repair, operation or maintenance of existing or n…

A. A municipality or county shall use qualified professionals to prepare the capital improvements plan and to calculate the impact fee. The capital improvements plan shall follow the infrastructure capital improvement planning guidelines established by the department of finance a…

The fee shall not exceed the cost to pay for a proportionate share of the cost of system improvements, based upon service units, needed to serve new development. History: Laws 1993, ch. 122, § 7.

A. Assessments of an impact fee shall be made at the earliest possible time. Collection of the impact fee shall occur at the latest possible time. B. For land that has been platted in accordance with the subdivision or platting procedures of a municipality or county before the ef…

Except as provided in Subsection F of Section 8 [5-8-8 NMSA 1978] of the Development Fees Act, after assessment of the impact fees attributable to the new development or execution of an agreement for payment of impact fees, additional impact fees or increases in fees may not be a…

Sections 1 through 15 [5-9-1 to 5-9-15 NMSA 1978] of this act may be cited as the "Enterprise Zone Act". History: Laws 1993, ch. 33, § 1.

A. Effective for property tax years beginning on or after January 1, 1994, the local government administering an enterprise zone may elect by resolution to use the tax increment procedures set forth in Section 11 [5-9-11 NMSA 1978] of the Enterprise Zone Act for financing enterpr…

A. Upon approval of an enterprise zone project, the local government administering an enterprise zone shall notify the county assessor and the taxation and revenue department of the approval and of the identification of the parcels of property within the project subject to taxati…

A. Every local government administering an enterprise zone shall create an "enterprise zone fund" for purposes of the Enterprise Zone Act. B. Enterprise zone fund proceeds shall be used by a local government administering an enterprise zone to acquire property within the enterpri…

The tax increment method shall be used only upon prior approval by a majority of the units of government participating in property tax revenue derived from property within an enterprise zone project. The local government administering the enterprise zone shall request in writing …

If the tax increment method of financing enterprise zone projects is used, the base value shall be the value used in calculating the limit of general obligation indebtedness imposed by the constitution of New Mexico and the statutes of New Mexico. History: Laws 1993, ch. 33, § 14…

The secretary of finance and administration and the secretary of taxation and revenue are authorized to promulgate such rules and regulations necessary for the proper administration of Sections 10 through 14 [5-9-10 to 5-9-14 NMSA 1978] of the Enterprise Zone Act. History: Laws 1…

It is the purpose of the Enterprise Zone Act to provide for the establishment of enterprise zones in a wide variety of geographic areas in order to stimulate the creation of new jobs, particularly for economically disadvantaged workers and long-term unemployed individuals, and to…

As used in the Enterprise Zone Act: A. "business facility" means the place of business within an enterprise zone of a business that is established within or begins operations in an enterprise zone; B. "economically disadvantaged worker" means an employed person whose income as an…

A. No area shall be designated an enterprise zone until the local government has promulgated an ordinance governing: (1) the parameters relating to the size and population characteristics of an enterprise zone; and (2) the contents of an enterprise zone plan. B. The local governm…

A. An area may be designated an enterprise zone if the area meets the requirements of this section. B. The local government may designate as an enterprise zone an area within a municipality: (1) that has a population not exceeding twenty-five percent of the population of the muni…

A. The enterprise zone plan shall include: (1) a map of the enterprise zone; (2) a narrative describing how the enterprise zone will eliminate economic distress in the enterprise zone; (3) a description of local incentives and initiatives to be implemented in the enterprise zone;…

The local government that created the enterprise zone shall organize, coordinate and direct the administration of the enterprise zone in accordance with law, applicable ordinances, resolutions, any joint powers agreements and the enterprise zone plan. It may enter into a contract…

The local government that designated an enterprise zone shall make an annual progress report to the secretary of economic development due on the second Friday of January in the next calendar year including the following: A. the number of new jobs created within the enterprise zon…

A. State agencies shall cooperate with, assist, and where possible, give preference in selection to a business located within an enterprise zone for any statutorily authorized state-administered grant and loan programs including, but not limited to, investments and loans through …

Chapter 5, Article 10 NMSA 1978 may be cited as the "Local Economic Development Act". History: Laws 1993, ch. 297, § 1; 2016, ch. 14, § 1.

development projects; project participation agreement; duties and requirements. A. If a local or regional government provides public support for an economic development project without the participation of the state, the local or regional government and the qualifying entity shal…

A. Local or regional government revenues dedicated or pledged for public support for economic development projects shall be deposited in a separate account. Separate accounts shall be established for each separate project. Money in the special account shall be expended only for e…

A. At any time after approval of an economic development plan, the governing body of the local government or the governing body of each local government in a regional government may enact an ordinance terminating the economic development plan and dissolving or terminating any or …

Nothing in the Local Economic Development Act shall be construed to affect any other requirements of the constitution or other laws regarding local government debt, issuance of bonds, use of tax revenues or the grant, lease or sale of land or other property. History: Laws 1993, c…

A. The "Local Economic Development Act fund" is created in the state treasury. Income from the fund shall be credited to the fund. Money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year. The department shall administer the fund, and mon…

project participation agreement; duties and requirements; economic development department. A. The department may participate with local or regional governments in economic development projects that: (1) provide for: (a) the purchase, lease, grant, construction, reconstruction, im…

certain businesses. A. Prior to January 1, 2023, the department may transfer to the authority funds appropriated by the legislature to the department for the purpose of providing recovery grants to recovery entities pursuant to this section. B. The department and the authority sh…

public support for certain projects. A. A qualifying entity that meets the following requirements may receive public support for the qualifying entity's economic development project from funds in the Local Economic Development Act fund pursuant to Subsection B of Section 5-10-14 …

A. The legislature finds that: (1) development of the New Mexico economy is vital to the well-being of the state and its residents; (2) it is difficult for municipalities and counties in New Mexico to attract and retain businesses capable of enhancing the local and state economy …

As used in the Local Economic Development Act: A. "arts and cultural district" means a developed district of public and private uses that is created pursuant to the Arts and Cultural District Act [15-5A-1 to 15-5A-7 NMSA 1978]; B. "broadband telecommunications network facilities"…

expenditures or pledges of credit. A. No local or regional government shall provide public support for economic development projects as permitted pursuant to Article 9, Section 14 of the constitution of New Mexico except as provided in the Local Economic Development Act or as oth…

At the request of a local or regional government, the department shall provide technical assistance in the development of an economic development plan or economic development project or technical assistance to cultural facilities with respect to economic development projects. His…

A. Every local or regional government seeking to pursue economic development projects shall adopt an economic development plan or a comprehensive plan that includes an economic development component, and an economic development plan or comprehensive plan may include an analysis o…

government. A. Two or more municipalities, two or more counties or one or more municipalities and counties may enter into a joint powers agreement pursuant to the Joint Powers Agreements Act [11-1-1 to 11-1-7 NMSA 1978] to develop a regional economic development plan, which may c…

A. After the adoption of an economic development plan by a local or regional government, a qualifying entity shall submit to the local or regional government an application for public support of a qualifying entity's economic development project. B. The application shall be on a …

A. The local or regional government shall review each application for public support submitted pursuant to Section 5-10-8 NMSA 1978, and any public support shall be approved by ordinance. B. The local or regional government's evaluation of an application shall be based on the pro…

Chapter 5, Article 11 NMSA 1978 may be cited as the "Public Improvement District Act". History: Laws 2001, ch. 305, § 1; 2013, ch. 45, § 1.

A. In addition to the powers otherwise granted to a district pursuant to the Public Improvement District Act, the district board, in implementing the general plan, may: (1) enter into contracts and expend money for any public infrastructure purpose with respect to the district; (…

The district has perpetual succession until terminated pursuant to Section 24 [5-11- 24 NMSA 1978] of the Public Improvement District Act. History: Laws 2001, ch. 305, § 11.

A. The district shall keep the following records, which shall be open to public inspection: (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 …

A. Following formation of the district, an area may be deleted from the district only following a hearing on notice to the owners of land in the district given in the manner prescribed for the formation hearing, adoption of a resolution of intention to do so by the district board…

The governing body of the municipality or county by resolution may summarily provide public services to the district or participate in the costs of any public infrastructure purpose. History: Laws 2001, ch. 305, § 14.

The formation of a district pursuant to the Public Improvement District Act shall not prevent the subsequent establishment of similar districts or the improvement or assessment of land in the district by the municipality or county or the exercise by the municipality or county of …