Section 22-26-2 – Definition.
As used in the Public School Buildings Act, “capital improvements” means expenditures, including payments made with respect to lease-purchase arrangements as defined in the Education Technology Equipment Act [Chapter 6, Article 15A NMSA 1978] but excluding any other debt service expenses, for: A. erecting, remodeling, making additions to, providing equipment for or furnishing public school […]
Section 22-26-3 – Authorization for local school board to submit question of capital improvements tax imposition.
A. A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax at a rate not to exceed the rate specified in the resolution should be imposed upon the net taxable value of property allocated to the school district under the […]
Section 22-26-4 – Authorizing resolution; time limitation.
The resolution authorized under Section 22-26-3 NMSA 1978 shall be adopted within the time frames required by the Election Code [Chapter 1 NMSA 1978] and pursuant to the requirements of the property tax division of the taxation and revenue department. History: Laws 1983, ch. 163, § 4; 2019, ch. 212, § 229. ANNOTATIONS The 2019 […]
Section 22-26-5 – Conduct of election; notice; ballot.
A. An election on the question of imposing a tax under the Public School Buildings Act shall be held as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978]. B. The resolution authorizing the ballot question or calling for a special election shall include as the question to be submitted to the […]
Section 22-26-6 – Election results; certification.
The certification of the results of an election held on the question of imposition of a public school buildings tax shall be as prescribed in the Local Election Act [Chapter 1, Article 22 NMSA 1978], and in addition to the reporting of results required by the Election Code [Chapter 1 NMSA 1978], a copy of […]
Section 22-26-7 – Imposition of tax; limitations.
If as a result of an election held in accordance with the Public School Buildings Act a majority of the qualified electors voting on the question votes in favor of the imposition of the tax, the tax rate shall be certified, unless the local school board directs that the tax levy not be made for […]
Section 22-26-8 – Tax to be imposed for a maximum of six years.
A tax imposed in a school district as a result of an election under the Public School Buildings Act shall be imposed for one, two, three, four, five or six years. The local school board may direct that such levy be decreased or not made for any year if, in its judgment, the total levy […]
Section 22-26-9 – Charter schools; receipt of local property tax revenue.
If the qualified electors of a school district have voted in favor of the imposition of a property tax as provided in Section 22-26-3 NMSA 1978, the amount of tax revenue to be distributed to each charter school that was included in the resolution shall be determined each year and shall be in the same […]
Section 22-26-10 – Expenditures by charter schools; reports to department.
A. No later than December 1 of each year, each locally chartered or state-chartered charter school that expects a distribution of property taxes pursuant to the Public School Buildings Act during the next calendar year shall submit a report to the department and its chartering authority showing the purposes for which the expected distribution will […]
Section 22-26-1 – Short title.
Chapter 22, Article 26 NMSA 1978 may be cited as the “Public School Buildings Act”. History: Laws 1983, ch. 163, § 1; 2007, ch. 366, § 18. ANNOTATIONS The 2007 amendment, effective July 1, 2007, changed the statutory reference to the act. For article, “No Cake For Zuni: The Constitutionality of New Mexico’s Public School […]