The bonds authorized by the Tax Increment for Development Act and the income from the bonds or any other instrument executed as security for the bonds shall be exempt from all taxation by the state or any political subdivision of the state.
§ 5-15-22 NMSA 1978
Exemption from taxation
Known as the Tax Increment for Development Act
The act spans §§ 5–5 (35 sections).
Laws 2006, ch. 75, § 22.
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.