The principal and income of bonds issued under the State Park and Recreation Bond Act [ 16-2-20 to 16-2-29 NMSA 1978] are exempt from all taxation by the state or any of its political subdivisions, except for inheritance and succession taxes.
§ 16-2-27 NMSA 1978
Tax exemptions
Known as the State Park and Recreation Bond Act
The act spans §§ 16–16 (38 sections).
1978 Comp., § 16-2-27, enacted by Laws 1965, ch. 280, § 8.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.