A tax imposed in a school district as a result of an election under the Public School Buildings Act shall be imposed for one, two, three, four, five or six years. The local school board may direct that such levy be decreased or not made for any year if, in its judgment, the total levy is not necessary for such year and shall direct that the levy be decreased by the amount required if a decrease is required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978.
History: Laws 1983, ch. 163, § 8; 1986, ch. 32, § 29; 2007, ch. 366, § 22; 2019, ch. 212, § 232.
ANNOTATIONSThe 2019 amendment, effective April 3, 2019, removed a provision related to the commencement of a tax imposed as a result of an election under the Public School Buildings Act; after "six years", deleted "commencing with the property tax year in which the election was held".
The 2007 amendment, effective July 1. 2007, changed the maximum number of property tax years for imposing the tax from five to six years.