The bill seeks to modernize and streamline various taxation and metropolitan redevelopment provisions in New Mexico, amending the Metropolitan Redevelopment Code and the Tax Increment for Development Act to align with destination sourcing. Key amendments include increasing the threshold for taxpayers to qualify for quarterly or semiannual filing, allowing the Secretary of Taxation and Revenue to negotiate on asserted liabilities, and eliminating the requirement for Attorney General approval for refunds exceeding $20,000. The bill also enhances transparency by increasing the public accessibility of tax-related agreements and credits, and it allows tax liens to be recorded without a notary signature. Additionally, it updates procedures for determining property and gross receipts tax increments, ensuring local governments can effectively manage redevelopment projects.

Further amendments introduce new tax credits aimed at promoting sustainable building practices, renewable energy, and economic development, including credits for adopting special needs children, investing in geothermal heat pumps, and constructing sustainable buildings. The bill also clarifies definitions related to rural areas and establishes criteria for tax deductions in various sectors, including healthcare and education. It outlines the process for imposing and amending certain taxes, including the special county hospital gross receipts tax, and introduces a health care delivery and access assessment for eligible hospitals. Overall, the bill represents a comprehensive effort to enhance tax administration, support economic initiatives, and streamline existing laws by repealing outdated provisions.

Statutes affected:
introduced version: 3-60A-21, 5-15-9, 5-15-21, 5-15-25.1, 5-15-25.2, 5-15-25.3, 5-15-27, 7-1-4.4, 7-1-6.2, 7-1-6.4, 7-1-6.5, 7-1-6.9, 7-1-6.15, 7-1-6.16, 7-1-6.18, 7-1-6.26, 7-1-6.27, 7-1-6.30, 7-1-6.46, 7-1-6.47, 7-1-6.58, 7-1-6.68, 7-1-13.1, 7-1-15, 7-1-20, 7-1-26, 7-1-28, 7-1-29, 7-1-37, 7-1-38, 7-1-39, 7-1-79, 7-2-12, 7-2-12.1, 7-2-18.16, 7-2-18.17, 7-2-18.22, 7-2-18.24, 7-2-18.26, 7-2-18.29, 7-2-18.31, 7-2-18.32, 7-2-18.35, 7-2-18.38, 7-2-24, 7-2-28.1, 7-2-31.1, 7-2-39, 7-2-40, 7-2-41, 7-2A-9, 7-2A-24, 7-2A-24.1, 7-2A-26, 7-2A-28, 7-2A-28.1, 7-2A-31, 7-2C-12, 7-2E-1.1, 7-3-7, 7-3-13, 7-3A-9, 7-9-9, 7-9-18.1, 7-9-43, 7-9-46, 7-9-56.3, 7-9-62, 7-9-62.1, 7-9-73.2, 7-9-73.3, 7-9-77.2, 7-9-83, 7-9-84, 7-9-90, 7-9-91, 7-9-93, 7-9-94, 7-9-95, 7-9-103.1, 7-9-103.2, 7-9-110.3, 7-9-112.1, 7-9-115, 7-9-116, 7-9-119, 7-9A-5, 7-9C-7, 7-9G-1, 7-13-3.5, 7-13A-3, 7-13A-5, 7-16A-9.4, 7-16A-15, 7-16B-4, 7-19-11, 7-19-12, 7-19-13, 7-19-14, 7-19-16, 7-19D-3, 7-19D-5, 7-19D-17, 7-20E-3, 7-20E-13, 7-20E-18, 7-20E-26, 7-26-2, 7-29-2, 7-29-4, 7-29-5, 7-29-6, 7-29-7, 7-29-8, 7-29-23, 7-30-2, 7-30-4, 7-30-9, 7-30-27, 7-31-2, 7-31-4, 7-31-6, 7-31-8, 7-31-9, 7-31-10, 7-31-11, 7-31-26, 7-32-2, 7-32-4, 7-32-6, 7-32-8, 7-32-9, 7-32-10, 7-32-11, 7-32-13, 7-32-28, 7-33-4, 7-34-2, 7-34-3, 7-34-4, 7-34-5, 7-34-6, 7-34-7, 7-40-5, 14-8-4, 24A-8-2, 24A-8-3, 24A-8-6, 52-5-19, 67-3-8.1, 7-2-7, 7-1-6.66
Final Version: 3-60A-21, 5-15-9, 5-15-21, 5-15-25.1, 5-15-25.2, 5-15-25.3, 5-15-27, 7-1-4.4, 7-1-6.2, 7-1-6.4, 7-1-6.5, 7-1-6.9, 7-1-6.15, 7-1-6.16, 7-1-6.18, 7-1-6.26, 67-3-28, 7-1-6.30, 7-1-6.46, 7-1-6.47, 7-1-14, 7-1-6.68, 7-1-13.1, 7-1-15, 7-1-20, 7-1-26, 7-1-28, 7-1-29, 7-1-37, 7-1-38, 7-1-39, 7-1-79, 7-2-12, 7-2-12.1, 7-2-18.16, 7-2-18.17, 7-2-18.22, 7-2-18.24, 7-2-18.26, 7-2-18.29, 7-2-18.31, 7-2-18.32, 7-2-18.35, 7-2-18.38, 7-2-24, 7-2-28.1, 7-2-31.1, 7-2-39, 7-2-40, 7-2-41, 7-2A-9, 7-2A-24, 7-2A-24.1, 7-2A-26, 7-2A-28, 7-2A-28.1, 7-2A-31, 7-2C-12, 7-2E-1.1, 7-3-7, 7-3-13, 7-3A-9, 7-9-9, 7-9-18.1, 7-9-43, 7-9-46, 7-9-56.3, 7-9-62, 7-9-62.1, 7-9-73.2, 7-9-73.3, 7-9-77.2, 7-9-83, 7-9-84, 7-9-90, 7-9-91, 7-9-93, 7-9-94, 7-9-95, 7-9-103.1, 7-9-103.2, 7-9-110.3, 7-9-112.1, 7-9-115, 7-9-116, 7-9-119, 7-9A-5, 7-9C-7, 7-9G-1, 7-13-3.5, 7-13A-3, 7-13A-5, 7-16A-9.4, 7-16A-15, 7-16B-4, 7-19-11, 7-19-12, 7-19-13, 7-19-14, 7-19D-3, 7-19D-5, 7-20E-3, 7-20E-13, 7-20E-18, 7-20E-26, 7-26-2, 7-29-2, 7-29-4, 7-29-5, 7-29-6, 7-29-7, 7-29-8, 7-29-23, 7-30-9, 7-30-27, 7-31-2, 7-31-4, 7-31-6, 7-31-8, 7-31-9, 7-31-10, 7-31-11, 7-31-26, 7-32-2, 7-32-4, 7-32-6, 7-32-8, 7-32-9, 7-32-10, 7-32-11, 7-32-13, 7-32-28, 7-33-4, 7-34-2, 7-34-3, 7-34-4, 7-37-7, 7-34-6, 7-34-7, 7-40-5, 14-8-4, 24A-8-2, 24A-8-3, 24A-8-6, 52-5-19, 67-3-8.1, 7-2-7, 7-1-6.66