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Economic Development Bills Sponsored By Senator Ivey-Soto

Click on the bill number and title to be taken to the bill on the New Mexico Legislature website.

SB140 (2014) TAX INCREMENT DISTRICT BASE-YEARS

This bill -- which is now law -- allowed the developer of Winrock Town Center to restructure the existing tax increment districts, and is directly responsible for enabling the current redevelopment of Winrock Town Center, which will ultimately result on over 2,000 jobs.


SB545 (2013) MANUFACTURING SINGLE SALES TAX FACTOR

This bill -- the content of which was passed in HB 641 (2013) and is now law -- deals with how manufacturing expenses are reported for taxation purposes, and is a key component hailed by economic development experts in encouraging manufacturing in New Mexico.


SB151 (2016) HIGH-WAGE JOBS TAX CREDIT ELIGIBILITY

This bill would have made New Mexico's High Wage Jobs Tax Credit competitive with surrounding states, and was recognized by the Senate President Pro Tem as encouraging exactly the kind of jobs the statewide Jobs Council was trying to attract.


HB228 (2015) REVISED UNIFORM LIMITED LIABILITY COMPANY ACT

This bill sought to implement the modernization of the structure for a limited liability company consistent with best business practices around the country. It was supported by the Corporations Division and will be pursued again in future years.


SB233 (2016) EXTENDED TIME PERIOD FOR ENERGY TAX CREDITS

This would have saved existing energy production tax credits and encouraged job growth.


SJR14 (2016) LEGISLATIVELY LIMIT PROPERTY VALUE RAISES, CA

This proposed constitutional amendment was supported by Albuquerque Economic Development, the Association of Commerce and Industry, and the Greater Albuquerque Chamber of Commerce. It would have permitted the creation of economic development and revitalization zones to encourage private investment in New Mexico.


SB374 (2015) UNIFORM ENVIRONMENTAL COVENANTS ACT

This bill would have permitted revitalization of contaminated brownfields while attaching a covenant to the property restricting the use of that land.



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To see a complete list of Daniel's bills or to learn more about his committee assignments, click here!