§ 5-10-1 Short title
§ 5-10-2 Findings and purpose of act
§ 5-10-3 Definitions
§ 5-10-4 Economic development projects; restrictions on public expenditures or pledges of credit
§ 5-10-5 Economic development department; technical assistance
§ 5-10-6 Economic development plan; contents; publication
§ 5-10-7 Regional plans; joint powers agreement; regional government
§ 5-10-8 Applications for public support
§ 5-10-9 Project evaluation; department
§ 5-10-10 Local or regional government participation in economic development projects; project participation agreement; duties and requirements
§ 5-10-11 Project revenues; special fund; annual audit
§ 5-10-12 Plan and project termination
§ 5-10-13 Limitations
§ 5-10-14 Local Economic Development Act fund
§ 5-10-15 State participation in economic development projects; project participation agreement; duties and requirements; economic development department
§ 5-10-16 Grants to reimburse rent, lease or mortgage payments for certain businesses
§ 5-10-17 Gross receipts tax and compensating tax revenue as public support for certain projects
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In New Mexico Statutes > Chapter 5 > Article 10 - Local Economic Development

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.