The bonds authorized by the Electric Generating Facility Economic District Act, the income from those bonds, mortgages or other security instruments executed as security for those bonds, lease agreements authorized by the Electric Generating Facility Economic District Act and revenue derived from a lease or sale by an authority are exempt from taxation by the state and its subdivisions.
§ 71-10-6 NMSA 1978
Revenue bonds; exemption from taxation
Known as the Electric Generating Facility Economic District Act
The act spans §§ 71–71 (11 sections).
Laws 2020, ch. 78, § 6.
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.