WATER GROSS RECEIPTS 6-YEAR LIMIT

SB 445 removes a six-year expiration for a 0.25% tax on business gross receipts in water and sanitation districts, allowing the tax to continue indefinitely after initial voter approval. It directly affects water and sanitation districts in New Mexico counties, which must first secure voter approval to impose the tax. The bill modifies existing law by eliminating the requirement for districts to seek renewed voter approval every six years, while keeping the initial voter approval requirement and mandating that tax revenue fund only water/sanitation district operations.