SENATE BILL 466

53rd legislature - STATE OF NEW MEXICO - first session, 2017

INTRODUCED BY

Ron Griggs

AN ACT

RELATING TO WATER AND SANITATION DISTRICTS; REMOVING A PORTION OF THE TAX LEVY LIMITATION FOR WATER AND SANITATION DISTRICTS.

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

     SECTION 1. Section 4-54-4 NMSA 1978 (being Laws 1965, Chapter 283, Section 4, as amended) is amended to read:

     "4-54-4. TAX LIMITATION.--

          A. Except as provided in Subsection B of this section, the aggregate total of all taxes levied by a community service district for all purposes shall not exceed a rate of ten dollars ($10.00), or any lower maximum amount required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 upon taxes levied pursuant to the Community Service District Act, on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code, of taxable property within the community service district.

          B. The limitation provided in Subsection A of this section shall apply only to the total of all taxes levied by a water and sanitation district organized pursuant to the Water and Sanitation District Act for the issuance of negotiable securities."

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