Bill > SB4

This bill increases the rate of the occupancy tax that may be imposed by a municipality or county pursuant to the Lodgers' Tax Act. It also expands the allowable uses of the occupancy tax proceeds to include defraying the costs for quality-of-life-related facilities, allowing for the issuance of bonds to defray certain costs, and combining multiple sections regarding the use of the tax proceeds into one section. The bill also requires municipalities and counties to report occupancy tax expenditures to the local government division of the Department of Finance and Administration on a quarterly basis.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=4&year=24