§ 5-15-1 Short title
§ 5-15-2 Findings and purpose
§ 5-15-3 Definitions
§ 5-15-4 Resolution for formation of a district
§ 5-15-5 Contents of tax increment development plan
§ 5-15-6 Notice of public hearing
§ 5-15-7 Public hearing
§ 5-15-8 Formation determination; election
§ 5-15-8.1 Posting of notices
§ 5-15-9 Formation of a district
§ 5-15-10 Governance of the district
§ 5-15-11 Records; open meetings
§ 5-15-12 District powers; limitations
§ 5-15-13 Authority to impose property tax levy
§ 5-15-14 Property tax levy rescission election
§ 5-15-15 Tax increment financing; gross receipts tax increment to secure bonds
§ 5-15-15.1 Filing fee for evaluating use of state gross receipts tax increment
§ 5-15-16 Bonding authority; gross receipts tax increment
§ 5-15-17 Property tax increment bonds
§ 5-15-18 Bonding authority; property tax increment
§ 5-15-19 Refunding bonds
§ 5-15-20 General bonding authority of a tax increment development district; other limitations
§ 5-15-20.1 Debt service reserve account
§ 5-15-21 Approval required for issuance of bonds against state gross receipts tax increments
§ 5-15-22 Exemption from taxation
§ 5-15-23 Protection from impairment
§ 5-15-24 Tax increment accounting procedures
§ 5-15-25 Modification of tax increment development area boundaries or tax increment development plan
§ 5-15-25.1 Base year revision; resolution; comment period;
§ 5-15-25.2 Base year revision; approval
§ 5-15-25.3 Base year revision; effect
§ 5-15-26 Termination of tax increment development district
§ 5-15-27 Dedication of gross receipts tax increment; notice to taxation and revenue department
§ 5-15-28 Bond term expiration
§ 5-15-29 Report required
§ 5-15A-1 Authorization of issuance of bonds
§ 5-15A-2 Duration of authorization
§ 5-15A-3 Certain capital projects prohibited
§ 5-15B-1 Authorization of issuance of bonds
§ 5-15B-2 Duration of authorization
§ 5-15B-3 Certain capital projects prohibited
§ 5-15B-4 Reduction in state gross receipts tax revenue
§ 5-16-1 Short title
§ 5-16-2 Purposes
§ 5-16-3 Definitions
§ 5-16-4 Creation of district
§ 5-16-5 Board
§ 5-16-6 Powers of the district
§ 5-16-7 Bonds
§ 5-16-8 Investments
§ 5-16-9 Taxation
§ 5-16-10 Cooperative powers
§ 5-16-11 Notice; opportunity for comment
§ 5-16-12 Addition or withdrawal of territory by a district
§ 5-16-13 Use of revenue by governmental units

Terms Used In New Mexico Statutes > Chapter 5 > Article 15 - Tax Increment for Development

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Statute: A law passed by a legislature.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.