1. A. If the formation of the tax increment development district is approved in accordance with the provisions of Section 5-15-8 NMSA 1978, the governing body shall deliver a copy of the resolution ordering formation of the tax increment development district to each of the following persons or entities:

   1. (1) the county assessor, the county treasurer and the clerk of the county in which the district is located;
   2. (2) the school district within which any portion of the property located within a tax increment development area lies;
   3. (3) any other taxing entities within which any portion of the property located within a tax increment development area lies;
   4. (4) the taxation and revenue department;
   5. (5) the local government division of the department of finance and administration; and
   6. (6) the director of the legislative finance committee.
2. B. A notice of the formation showing the number and date of the resolution and giving a description of the land included in the district shall be recorded with the clerk of the county in which the district is located.
3. C. A tax increment development district shall be a political subdivision of the state, separate and apart from a municipality or county.
4. D. By the July 1 following at least ninety days after receipt of the notice required by this section, the taxation and revenue department shall designate a reporting location code for the tax increment development district pursuant to Section 7-1-14 NMSA 1978.

History: Laws 2006, ch. 75, § 9; 2009, ch. 179, § 4; 2017, ch. 143, § 1; 2019, ch. 212, § 202; 2025, ch. 130, § 3.

ANNOTATIONS

Compiler’s notes. — Senate Bill 67, enacted by the Fifty-Third Legislature, First Session, 2017, was vetoed by the governor on March 14, 2017. Pursuant to the First Judicial District Court’s decision in State ex rel. New Mexico Legislative Council v. Honorable Susana Martinez, Governor of the State of New Mexico et al., D-101-CV-2017-01550, and affirmed by S.Ct. Order No. S-1-SC-36731, on April 25, 2018, which held that Article IV, Section 22 of the New Mexico Constitution requires that objections must accompany a returned bill, Senate Bill 67 was chaptered into law by the Secretary of State.

The 2025 amendment, effective July 1, 2025, required the taxation and revenue department to designate a reporting location code within a certain period of time for newly formed tax increment development districts; and added Subsection D.

The 2019 amendment, effective April 3, 2019, required the formation of a tax increment development district to be approved in accordance with the provisions of Section 5-15-8 NMSA 1978; in Subsection A, after "approved", deleted "by a majority of the voters casting votes at the election, or if an election is held by vote of the owners of property within the district or proposed district" and added "in accordance with the provisions of Section 5-15-8 NMSA 1978".

The 2017 amendment, effective June 16, 2017, required that the treasurer of the county in which a tax increment development district is formed be notified of that formation; and in Paragraph A(1), after "the county assessor", added "the county treasurer".

The 2009 amendment, effective June 19, 2009, added Paragraph (6) of Subsection A.