Chapter 5 — Chapter 5

A. The formation determination and election procedures set forth in this section shall be used for: (1) formation of a new tax increment development district; (2) selection of a district board member; (3) adoption of a property tax levy by a tax increment development district; (4…

For any election conducted pursuant to the Tax Increment for Development Act, in addition to the notice requirements set forth in Section 5-15-8 NMSA 1978, the owners shall ensure that notices shall be posted in three conspicuous public places within the boundaries of the distric…

A. If the formation of the tax increment development district is approved in accordance with the provisions of Section 5-15-8 NMSA 1978, the governing body shall deliver a copy of the resolution ordering formation of the tax increment development district to each of the following…

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The duration of the authorization for issuance of bonds in this act is unlimited, unless and until this act is repealed or modified by the legislature.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.

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 …

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 pledge…

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from the date of issuance of the first series of tax increment bonds of the district, unless and until this act is repealed or modified by the legislature.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, §…

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…

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 t…

The legislature authorizes the issuance of bonds not to exceed two hundred sixty- seven million dollars ($267,000,000) 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 197…

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 2023, ch. 157, …

A. The legislature shall not approve or authorize any capital outlay projects within the south campus tax increment development district during the period in which any bonds issued by the district pursuant to Section 1 [5-15C-1 NMSA 1978] of this act are outstanding, except for b…

Once the developer of the south campus tax increment development project has been fully reimbursed, regardless of the source of reimbursement, for the costs of eligible infrastructure, the south campus tax increment development district shall provide to the state board of finance…

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.

A district may cooperate with a person to: A. accept legitimate contributions or liens securing obligations of the district from the person with respect to the financing, planning, designing, engineering and construction of a regional spaceport and, in connection with a loan or a…

At least seven business days prior to a regularly scheduled meeting, the board shall make available to the public written or electronic notice of the time and agenda of the meeting. The board shall designate during each meeting a public comment period and shall offer the public a…

A. After the creation of a district, a governmental unit adjacent to but not part of that district may join the district and determine the territorial area to become a part of that district. A two-thirds' affirmative vote by the board shall be required before the governmental uni…

Each governmental unit that is a county or municipality and is a member of a combination shall have enacted a municipal regional spaceport gross receipts tax or a county regional spaceport gross receipts tax prior to December 31, 2008. At least seventy-five percent of the municip…

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 sou…

As used in the Regional Spaceport District Act: A. "authority" means the spaceport authority created pursuant to the Spaceport Development Act [58-31-1 to 58-31-17 NMSA 1978]; B. "board" means the board of directors of a district; C. "bond" means a revenue bond issued by the auth…

A. A combination may create a regional spaceport district by contract. Upon the issuance by the authority of a certificate stating that the district has been duly organized according to the provisions of the Regional Spaceport District Act, the district may exercise the functions…

A. All powers, privileges and duties vested in or imposed upon the district shall be exercised and performed by the board. The board may delegate its powers by resolution to an officer or agent of the board, with the exception of the following: (1) adoption of board policies and …

A. A district is a body politic and corporate. In addition to other powers granted to the district pursuant to the Regional Spaceport District Act, the district may: (1) have perpetual existence, except as otherwise provided in the contract; (2) sue and be sued; (3) enter into co…

A district may enter into contracts with the authority pursuant to which the authority may issue bonds under the Spaceport Development Act [58-31-1 to 58-31-17 NMSA 1978] for the purpose of financing the planning, designing, engineering and construction of a regional spaceport or…

A board shall invest or deposit funds in accordance with the prudent investor rule set forth in the Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978]. The board shall employ the state investment council to invest the funds and may pay reasonable compensation for inves…

A district has no direct taxation authority. History: Laws 2006, ch. 15, § 9.

Chapter 5, Article 17 NMSA 1978 may be cited as the "Infrastructure Development Zone Act". History: Laws 2009, ch. 136, § 1; 2019, ch. 10, § 1.

A. The election official designated by the approving authority shall conduct the organization election pursuant to this section and Section 20 [5-17-20 NMSA 1978] of the Infrastructure Development Zone Act. B. At the election, the eligible electors shall vote for or against the o…

Within thirty days after the effective date of the resolution declaring that an infrastructure development zone has been organized, the original petitioners shall file the resolution, the approved service plan and a map of the infrastructure development zone with the county clerk…

overlapping districts. A. Except as provided in Subsection B of this section, no infrastructure development zone may be organized wholly or partly within an existing special district or infrastructure development zone that provides the same service; provided that nothing in this …

A. If an infrastructure development zone that was not originally approved by the governing body of a municipality becomes wholly contained within the boundaries of a municipality by annexation, the board may petition the governing body of the municipality to accept a designation …

A. Upon the organization of an infrastructure development zone, the facilities, services and financial arrangements of the infrastructure development zone shall conform so far as practicable to the approved service plan. B. After the organization of an infrastructure development …

A. Additional territory may be added to an infrastructure development zone without an election pursuant to the following provisions: (1) the boundaries of an infrastructure development zone may be altered by the inclusion of additional real property by the fee owners of one hundr…

The following shall be applicable to any proceeding for inclusion accomplished pursuant to Section 15 [5-17-15 NMSA 1978] of the Infrastructure Development Zone Act: A. nothing in Section 15 of the Infrastructure Development Zone Act shall affect the validity of any area or prope…

A. The boundaries of an infrastructure development zone may be altered by the exclusion of real property by the fee owners of one hundred percent of any real property situate in the infrastructure development zone filing with the board a petition requesting that the real property…

A. Territory excluded from an infrastructure development zone pursuant to the provisions of Section 17 [5-17-17 NMSA 1978] of the Infrastructure Development Zone Act shall not be subject to any property tax levied by the board for the operating costs of the infrastructure develop…

A. The infrastructure development zone shall be dissolved by a resolution of the board upon a determination that each of the following conditions exist: (1) all improvements owned by the infrastructure development zone have been, or provision has been made for all improvements to…

As used in the Infrastructure Development Zone Act: A. "approving authority" means the governing body required by Section 5-17-9 or 5- 17-13 NMSA 1978 to designate an election official to conduct the organization election and exercise other duties pursuant to the Infrastructure D…

A. Except as provided otherwise in the Infrastructure Development Zone Act, the provisions of the Election Code [Chapter 1 NMSA 1978] shall govern all elections conducted pursuant to the Infrastructure Development Zone Act. B. At an election for the organization of a new infrastr…

A. Of the initial board members, two directors shall serve until they or their successors are elected and qualified at the next regular election occurring in any year following that in which the infrastructure development zone was organized, and three shall serve until they or th…

Except as limited by the service plan of the infrastructure development zone, the board has the following powers: A. to have perpetual existence; B. to have and use a corporate seal; C. to sue and be sued and to be a party to suits, actions and proceedings; D. pursuant to the Pro…

limitations. In addition to the powers specified in Section 22 [5-17-22 NMSA 1978] of the Infrastructure Development Zone Act, if within the scope of the service plan, the board has the following powers for and on behalf of the infrastructure development zone: A. to operate a sys…

additional powers. In addition to the powers specified in Section 22 [5-17-22 NMSA 1978] of the Infrastructure Development Zone Act, the board, if within the scope of the service plan, has the following powers relating to sanitation, water and sanitation and water services for an…

A. The board may divide the infrastructure development zone into one or more areas consistent with the services to be furnished therein. However, any facility operated by the infrastructure development zone within the area may be used by any resident of the infrastructure develop…

The projects to be constructed or acquired as shown in the service plan may be financed from the following sources of revenue: A. proceeds received from the sale of bonds of the infrastructure development zone; B. money of the municipality or county contributed to the infrastruct…

An infrastructure development zone shall not request nor receive state funding for a capital outlay project; provided that this prohibition does not apply to buildings or facilities that may be located within an infrastructure development zone but that are owned by the state or o…

A. At any time after the organization of the infrastructure development zone, the board may order and call a general obligation bond election to submit to the eligible electors the question of authorizing the infrastructure development zone to issue general obligation bonds of th…

A. At any time after the organization of the infrastructure development zone, the board may from time to time order that a hearing be held to determine whether a special assessment should be imposed and special assessment bonds issued to provide money for any services consistent …

submission of service plan. A. An infrastructure development zone may be entirely within or entirely without, or partly within and partly without, one or more municipalities or counties, and an infrastructure development zone may consist of noncontiguous tracts or parcels of prop…