Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | New Mexico |
| Effected Jurisdiction: | Sandoval County |
Jurisdiction type: | County |
| Fiscal year ending In: | 2022 |
| Program name: | Industrial Revenue Bonds - Intel Corp. |
| Program purpose: | General Economic Development |
| Statutory authority: | NMSA 4-59-1 through 4-59-16 |
| Abating jurisdiction(s): | Sandoval County |
| Applicable taxes: | Ad Velorum propoerty tax; Gross Receips and Compensating Taxes |
| Method of abatement: | Tax Abatement |
| Provisions for recapture: | No but Company must pay County $100,000 each year they do not hire 60% of their annual new employees from Sandoval County residents |
| Gross revenue loss: | $6,940,692 |
| Reimbursement / offset: | $500,000 |
| Net revenue loss: | $6,440,692 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.sandovalcountynm.gov/wp-content/uploads/2023/04/FY2022_Count... |
