SANTA FE, NM—A pair of house bills would change how Public Improvement Districts can levy taxes is undergoing some reworking.

The bill, HB 355, was introduced by Rep. Mimi Stewart, a Bernalillo Democrat. But, on Thursday, she told Albuquerque Business First that the bill is being modified to work with a bill sponsored by Rep. Jason Harper, a Rio Rancho Republican.

The new bills are similar, and both seek a reduction in the fees that developers can charge in a Public Improvement District and would establish voting rights for those that own property in the districts.

The bills were introduced at the request of Attorney General Gary King after much publicity about issues that arose at the Mariposa development by High Desert Investment Corp.

Last summer, HDIC pulled out of its deal to develop the land, which is located in a public improvement district, and left 100 homeowners with a $16 million tax debt.

The new bill, Stewart said, won't affect smaller PID districts, such as Downtown Albuquerque's Business Improvement District, only larger developments.

Click Albuquerque Business First to read the full story.

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House PID Bill Will Be Modified

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