The bonds authorized by the Municipal Mortgage Finance Act and the income from the bonds shall be exempt from all taxation by the state or any political subdivision thereof, subject to the provisions of the Banking and Financial Corporations Tax Act.
§ 58-18A-11 NMSA 1978
Exemption from taxation
Known as the Municipal Mortgage Finance Act
The act spans §§ 58–58 (12 sections).
Laws 1979, ch. 381, § 11.
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.