summary
Introduced
01/19/2022
01/19/2022
In Committee
02/13/2022
02/13/2022
Crossed Over
02/14/2022
02/14/2022
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO ECONOMIC DEVELOPMENT INCENTIVES; REQUIRING RECIPIENTS OF PUBLIC SUPPORT FROM THE STATE PURSUANT TO THE LOCAL ECONOMIC DEVELOPMENT ACT TO REPORT JOB CREATION AND CAPITAL INVESTMENT INFORMATION; REQUIRING THE TAXATION AND REVENUE DEPARTMENT TO COMPILE AND PRESENT A TAX EXPENDITURE BUDGET AND ANALYSES OF CERTAIN TAX EXPENDITURES TO THE GOVERNOR AND LEGISLATIVE COMMITTEES; MAKING AN APPROPRIATION.
AI Summary
This bill requires recipients of public support from the state under the Local Economic Development Act to report job creation and capital investment information annually for five years. It also requires the Taxation and Revenue Department to compile and present a tax expenditure budget and analyses of certain tax expenditures to the Governor and legislative committees. The bill appropriates $342,000 to the Taxation and Revenue Department to assist with evaluating tax expenditures and other economic development incentives.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Action Postponed Indefinitely (on 02/14/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=69&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0069.pdf |
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