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 should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] at a rate not to exceed that specified in the resolution for the purpose of capital improvements in the school district. The resolution shall:

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(1)     identify the capital improvements for which the revenue proposed to be produced will be used;

(2)     specify the rate of the proposed tax, which shall not exceed two dollars ($2.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code;

(3)     limit the imposition of the proposed tax to no more than six property tax years; and

(4)     indicate the regular election on which the ballot question shall appear or specify the date a special election will be held to submit the question of imposition of the tax to the qualified electors of the district.

B. A school district that has one or more charter schools located within the school district boundaries shall collaborate with the charter schools to establish a process through which the charter schools submit necessary information to the school district for inclusion in the resolution. This process shall include:

(1)     identification of the capital improvements of the charter school for which the revenue proposed to be produced will be used;

(2)     a requirement that necessary information be submitted to the school district no later than June 1 of the calendar year in which the local school board will consider the resolution; and

(3)     the point of contact in the school district to which the charter school is to submit the information.

C. A resolution submitted to the qualified electors pursuant to Subsection A of this section shall include capital improvements funding for a locally chartered or state- chartered charter school located within the school district if the charter school has complied with the process outlined in Subsection B of this section.