Interest earned on all severance tax income bonds shall be exempt from taxation by the state or any of its political subdivisions.
§ 7-27-47 NMSA 1978
Bonds tax-free
Known as the Severance Tax Bonding Act
The act spans §§ 7–7 (92 sections).
Laws 1981 (1st S.S.), ch. 9, § 20.
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.