New Mexico § 6-15A-13 Tax exemption

New Mexico Statutes

§ 6-15A-13 — Tax exemption

New Mexico·Ch. 6 Public Finances·Art. 15A Education Technology Equipment

The state covenants with the purchasers and all subsequent holders and transferees of lease-purchase arrangements entered into by the local school boards, in consideration of the acceptance of and payment for the lease-purchase arrangements entered into pursuant to [the Education] Technology Equipment Act , that lease- purchase arrangements and the income from the lease-purchase arrangements shall at all times be free from taxation by the state, except for estate or gift taxes and taxes on transfers.

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The state covenants with the purchasers and all subsequent holders and transferees of lease-purchase arrangements entered into by the local school boards, in consideration of the acceptance of and payment for the lease-purchase arrangements entered into pursuant to [the Education] Technology Equipment Act , that lease- purchase arrangements and the income from the lease-purchase arrangements shall at all times be free from taxation by the state, except for estate or gift taxes and taxes on transfers.

New Mexico § 6-15A-13 (Tax exemption) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.