New Mexico § 5-9-12 - Enterprise zone fund; creation; use
Full text of New Mexico New Mexico Statutes Annotated § 5-9-12 — Enterprise zone fund; creation; use, with citation guidance and answers to common questions.
§ 5-9-12. Enterprise zone fund; creation; use
A. Every local government administering an enterprise zone shall create an “enterprise
zone fund” for purposes of the Enterprise Zone Act. B. Enterprise zone fund proceeds shall be used by a local government administering
an enterprise zone to acquire property within the enterprise zone, prepare property
for redevelopment, provide necessary infrastructure improvements, pay all necessary
related expenses to redevelop and finance enterprise zone projects and fund the administration
of the enterprise zone in an amount not to exceed ten percent of the funds available
annually. None of the proceeds shall be used for the construction of buildings or other improvements
that are not owned by a local government participating in an enterprise zone.
Frequently Asked Questions About New Mexico § 5-9-12
What does New Mexico Statutes Annotated § 5-9-12 cover?
Section 5-9-12 ("Enterprise zone fund; creation; use") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 5-9-12?
A common citation format is "New Mexico Statutes Annotated § 5-9-12" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 5-9-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.