MAN-MADE WATER INFRASTRUCTURE FAILURE

HB 37 modifies New Mexico's property tax law to allow agricultural land temporarily resting due to a special water district's man-made infrastructure failure (reducing water delivery to 70% or less of prior year levels) to maintain its agricultural tax valuation. This directly affects landowners in areas served by special water districts (like acequias or irrigation districts) whose water supply is disrupted by such failures. The bill requires the water district to certify the water shortage to the county assessor, enabling landowners to retain agricultural tax status without needing to actively farm during the disruption. It updates existing tax rules to include this specific scenario as a qualifying reason for "agricultural use" under property tax valuation.