The real property of a housing project, as defined in the Regional Housing Law, is declared to be public property used for essential public and governmental purposes and is property of a regional housing authority of this state and is exempt from taxation until a deed conveying that property to a nonexempt entity is executed and delivered by the regional housing authority.
History: Laws 1994, ch. 132, § 22; 2009, ch. 48, § 15.
Compiler's notes. — Laws 1995, ch. 191, § 25, effective June 16, 1995, repealed Laws 1994, ch. 132, § 30, which provided for the repeal of this section on July 1, 1995.
The 2009 amendment, effective March 31, 2009, added "regional housing authority".
Structure New Mexico Statutes
Chapter 11 - Intergovernmental Agreements and Authorities
Article 3A - Regional Housing Law
Section 11-3A-1 - Short title.
Section 11-3A-2 - Finding and declaration of necessity.
Section 11-3A-3 - Definitions.
Section 11-3A-4 - Regional housing authorities created.
Section 11-3A-5 - Jurisdiction.
Section 11-3A-8 - Requirements respecting lease.
Section 11-3A-9 - Nonprofit corporations.
Section 11-3A-10 - Prohibited actions.
Section 11-3A-12 - State policy; operation not for profit.
Section 11-3A-13 - Sales, rentals and tenant selection.
Section 11-3A-19 - Remedies of an obligee.
Section 11-3A-20 - Additional remedies conferrable to an obligee.
Section 11-3A-21 - Exemption of property from execution sale.
Section 11-3A-22 - Exemption of property from taxation.
Section 11-3A-23 - Aid from state or federal government.
Section 11-3A-24 - Cooperation in undertaking housing projects and affordable housing programs.
Section 11-3A-25 - Procedure for exercising powers.
Section 11-3A-26 - Supplemental nature of the regional housing law.
Section 11-3A-28 - Law controlling.
Section 11-3A-30 - Financial and operational oversight.
Section 11-3A-31 - Transitional provisions; commissioners; contracts and agreements.