Statutes > New Mexico Statutes > Chapter 72 - Water Law. > Article 18 - Flood Control Districts, 72-18-1 through 72-18-70. > Section 72-18-68 - Securities and income exempt.

Section 72-18-68 - Securities and income exempt.

72-18-68. Securities and income exempt.

Securities issued under the Flood Control District Act [72-18-1 to 72-18-70 NMSA 1978] and the income therefrom are exempt from taxation by the district and any public body, except transfer, inheritance and estate taxes.