SENATE BILL 111

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Carrol H. Leavell

FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE

AN ACT

REPEALING THE SECTION OF LAW THAT ALLOWS A BUSINESS TO DELAY THE ISSUANCE OF A COUNTY INDUSTRIAL REVENUE BOND FOR A PROPOSED PROJECT BY FILING A COMPLAINT THAT THE PROPOSED PROJECT WOULD COMPETE WITH THE COMPLAINING BUSINESS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. REPEAL.--Section 4-59-15 NMSA 1978 (being Laws 1975, Chapter 286, Section 15) is repealed.

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