LEDA GRT/CMP

New Mexico communities have the legal authority to provide public support for economic development through the Local Economic Development Act (LEDA), but most lack the capacity to do so consistently. LEDA provides a local option gross receipts tax (LEDA LOGRT), the revenue of which, upon voter approval, municipalities and counties dedicate to furthering or implementing economic development plans and projects. Municipalities may adopt a LEDA LOGRT increment of up to one-fourth percent (1/4%, or 0.25%), and one-eighth percent (1/8%, or 0.125%) is the maximum LEDA LOGRT increment counties may adopt.