{"data":{"id":"us-nm/5-15-9","jurisdiction":"us-nm","citation":"5-15-9","heading":"Formation of a district.","body":"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:\n(1) the county assessor, the county treasurer and the clerk of the county in which the district is located;\n(2) the school district within which any portion of the property located within a tax increment development area lies;\n(3) any other taxing entities within which any portion of the property located within a tax increment development area lies;\n(4) the taxation and revenue department;\n(5) the local government division of the department of finance and administration; and\n(6) the director of the legislative finance committee.\nB. 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.\nC. A tax increment development district shall be a political subdivision of the state, separate and apart from a municipality or county.\nD. 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.","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":"35b841d2045dbee4c73e716a3da0e33cb061ebac6080b76c4372034785822c05","source_id":"us-nm","stale":false,"prev":"us-nm/5-15-8.1","next":"us-nm/5-15-10"},"notice":"GroundRules: Original legal text. Not legal advice."}