skip to main content
skip to newscasts

Tuesday, April 23, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Biden administration moves to protect Alaska wilderness; opening statements and first witness in NY trial; SCOTUS hears Starbucks case, with implications for unions on the line; rural North Carolina town gets pathway to home ownership.

view newscast page
play newscast audioPlay

The Supreme Court weighs cities ability to manage a growing homelessness crisis, anti-Israeli protests spread to college campuses nationwide, and more states consider legislation to ban firearms at voting sites and ballot drop boxes.

view newscast page
play newscast audioPlay

Wyoming needs more educators who can teach kids trade skills, a proposal to open 40-thousand acres of an Ohio forest to fracking has environmental advocates alarmed and rural communities lure bicyclists with state-of-the-art bike trail systems.

Our Money, Our Rules - Board of Finance Votes on TIDD Regs

play audio
Play

Tuesday, July 22, 2008   

Santa Fe, NM - "You use our money, you play by our rules." That principle will be considered by the New Mexico state Board of Finance when it votes today on new rules for Tax Increment Financing, a tool that allows real estate developers to receive some of the tax revenue from a development for up to 25 years.

Bob Hearn with the Quality Growth Alliance says that group supports the rules, because without proper oversight, tax increment developments could siphon away funds that would otherwise go to vital state and local services.

"That means things like aid to children, aid to dependent people, medical care, aid to folks that don't have help, the environment. Things like that that receive the money that in a sense is left over each year. "

Anne Stauffer with New Mexico Voices for Children says the rules are needed to help ensure that more tax increment development districts don't cause serious budget inequities around the state.

"These districts will actually capture most of those taxes and use them just for the infrastructure in those districts, and they will not be available for other priorities the state has, or even for ongoing programs, for the next 25 years plus."

The rules being considered would look at the impact of tax increment development districts on everything from local economies to water rights.

Developers say the projects that already use the tax tool help boost the state's economy. Hearn disagrees, saying it amounts to unfair competition that drains the state budget.


get more stories like this via email

more stories
Several Mississippi correctional facilities offer both short-term (12 weeks) and long-term (six months) alcohol and drug programs with individual and group counseling for treating alcohol and drug addictions. (Wesley JvR/peopleimages.com)

Social Issues

play sound

Mississippi prisons often lack resources to treat people who are incarcerated with substance-use disorders adequately but a nonprofit organization is …


Social Issues

play sound

April is Second Chance Month and many Nebraskans are celebrating passage of a bipartisan voting rights restoration bill and its focus on second chance…

Health and Wellness

play sound

New Mexico saw record enrollment numbers for the Affordable Care Act this year and is now setting its sights on lowering out-of-pocket costs - those n…


Migrants are put on buses from Texas to other states, often without knowing where they are going. (afishman64/Adobe Stock)

Social Issues

play sound

The future of Senate Bill 4 is still tangled in court challenges. It's the Texas law that would allow police to arrest people for illegally crossing …

Social Issues

play sound

Residents in a rural North Carolina town grappling with economic challenges are getting a pathway to homeownership. In Enfield, the average annual …

Social Issues

play sound

A new poll finds a near 20-year low in the number of voters who say they have a high interest in the 2024 election, with a majority saying they hold …

Social Issues

play sound

A case before the U.S. Supreme Court could have implications for the country's growing labor movement. Justices will hear oral arguments in Starbucks …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021