2008 SB 434 Tax Increment Development District Moratorium

CVNM Position:

Support

Year:

2008

Sponsors:

Cisco McSorley

Topics:

Wildlife & Habitat Conservation

Legislative Info:

SB 434 on nmlegis.gov »

Description

Tax increment for development districts (TIDDs) on ‘greenfields’ pose major threats to the state’s financial health, as well as to thoughtful land use and water planning. Recognizing some of the dangers of using public tax dollars to subsidize private development of ‘greenfield’ TIDDs, SB 434 imposes a two-year moratorium on new greenfield TIDDs and creates a task force to study the issue and make recommendations.

Outcome

Defeated in the Senate.