summary
Introduced
02/01/2022
02/01/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC FUNDS; REQUIRING THE STATE TO MAKE PAYMENTS IN LIEU OF TAXES TO POLITICAL SUBDIVISIONS WHEN ACQUIRING REAL PROPERTY; MAKING AN APPROPRIATION.
AI Summary
This bill requires the state to make annual payments in lieu of taxes to any political subdivision that would have imposed a tax on real property acquired by the state through purchase or eminent domain. The property tax division of the Taxation and Revenue Department will promulgate rules to specify how these payments should be calculated and adjusted over time. The bill also creates a "payments in lieu of taxes fund" to facilitate these payments, which will be funded through appropriations, grants, and other sources. The bill has an effective date of July 1, 2022.
Committee Categories
Government Affairs
Sponsors (10)
Phelps Anderson (I)*,
Gail Armstrong (R)*,
Jack Chatfield (R)*,
Rebecca Dow (R)*,
Rachel Black (R),
Cathrynn Brown (R),
Randal Crowder (R),
Candy Ezzell (R),
T. Lane (R),
Martin Zamora (R),
Last Action
House Government, Elections and Indian Affairs Committee (14:00 2/12/2022 Room 305) (on 02/12/2022)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=181&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0181.pdf |
Loading...