Statutes > New Mexico Statutes > Chapter 5 - Municipalities and Counties. > Article 15 - Tax Increment for Development, 5-15-1 through 5-15-28. > Section 5-15-22 - Exemption from taxation.

Section 5-15-22 - Exemption from taxation.

5-15-22. Exemption from taxation.

The bonds authorized by the Tax Increment for Development Act [5-15-1 NMSA 1978] and the income from the bonds or any other instrument executed as security for the bonds shall be exempt from all taxation by the state or any political subdivision of the state.