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2017 New Mexico Statutes
Chapter 5 - Municipalities and Counties
Article 15 - Tax Increment for Development
Section 5-15-2 - Findings and purpose.
Universal Citation: NM Stat § 5-15-2 (2017)
5-15-2. Findings and purpose.
A. The purpose of the Tax Increment for Development Act is to create a mechanism for providing gross receipts tax financing and property tax financing for public infrastructure for the purpose of supporting economic development and job creation.
B. The legislature finds and declares that the powers conferred by the Tax Increment for Development Act are for public uses and purposes for which public money may be expended and the public power exercised, and that it is necessary and in the public interest for the provisions enacted in the Tax Increment for Development Act to be declared as a matter of legislative determination.
History: Laws 2006, ch. 75, 2.
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