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.
History: Laws 2020, ch. 78, § 6.
Emergency clause. — Laws 2020, ch. 78, § 13 contained an emergency clause and was approved March 9, 2020.
Structure New Mexico Statutes
Chapter 71 - Energy and Minerals
Article 10 - Electric Generating Facility Economic District
Section 71-10-1 - Short title.
Section 71-10-2 - Definitions.
Section 71-10-3 - Creation of a district.
Section 71-10-4 - Creation of an authority; members; terms; qualifications.
Section 71-10-5 - Authority; powers; duties.
Section 71-10-6 - Revenue bonds; exemption from taxation.
Section 71-10-7 - Bonding authority.
Section 71-10-8 - Refunding bonds.
Section 71-10-9 - Bonds not obligation of the state or a county.