{"data":{"id":"us-nm/5-15-25.2","jurisdiction":"us-nm","citation":"5-15-25.2","heading":"Base period revision; approval.","body":"A. The state board of finance may approve the revision of the base period used to determine a district's gross receipts tax increment:\n(1) once during the lifetime of the district;\n(2) if no gross receipts tax increment bonds attributable to the district have been issued;\n(3) if there is no unresolved objection to the revision by the developer or by a local government that has dedicated a tax increment to the district; and\n(4) upon a finding that the revision is reasonable and in the best interest of the state.\nB. If the state board of finance approves the revision of the base period used to determine a district's gross receipts tax increment, the state board of finance shall notify the district, the secretary of taxation and revenue, the developer and the local governments that have dedicated a tax increment to the district.","path":["Chapter 5 - Municipalities and Counties","ARTICLE 15 Tax Increment for Development"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18447/index.do","current_through":"2025-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"680d37b3f4a10fceb23c99ebeb1431a513ad4ae2229452d3a34c43e2c43fa21e","source_id":"us-nm","stale":false,"prev":"us-nm/5-15-25.1","next":"us-nm/5-15-25.3"},"notice":"GroundRules: Original legal text. Not legal advice."}