summary
Introduced
01/22/2017
01/22/2017
In Committee
01/26/2017
01/26/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC FINANCE; EXCLUDING GREENFIELD AREAS FROM THE TAX INCREMENT FOR DEVELOPMENT ACT.
AI Summary
This bill excludes "greenfield areas" from the Tax Increment for Development Act, which allows local governments to use increased tax revenue from development projects to fund public improvements. Greenfield areas are defined as land that has not been previously developed and is not currently served by adequate public infrastructure. The bill provides an exception for greenfield areas where a tax increment development district has already been formed and approved by the state prior to July 1, 2017.
Committee Categories
Justice, Military Affairs and Security
Sponsors (2)
Last Action
[LD 10] Referred to House Judiciary (on 01/26/2017)
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=H&legtype=B&legno=489&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0489.pdf |
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