A. Except as provided in Section 13-6-3 NMSA 1978, for state agencies, any sale, trade or lease for a period of more than five years of real property belonging to a state agency, local public body or school district or any sale, trade or lease of such real property for a consideration of more than twenty-five thousand dollars ($25,000) shall not be valid unless it is approved prior to its effective date by the state board of finance.

B. The provisions of this section shall not be applicable to:

(1) those institutions specifically enumerated in Article 12, Section 11 of the constitution of New Mexico;

(2) the state land office;

(3) the state transportation commission;

(4) the economic development department when disposing of property acquired pursuant to the Statewide Economic Development Finance Act [6-25-1 NMSA 1978]; or

(5) a school district when leasing facilities to a locally chartered or state-chartered charter school.

History: 1978 Comp., § 13-6-2.1, enacted by Laws 1989, ch. 380, § 1; 2001, ch. 122, § 1; 2003, ch. 142, § 3; 2003, ch. 349, § 22; 2011, ch. 69, § 1.

The 2011 amendment, effective July 1, 2011, exempted school districts that lease facilities to locally chartered or state-chartered charter schools.

The 2003 amendment, effective June 20, 2003, in Subsection B, updated the reference to the state transportation commission and added "or the economic development department when disposing of property acquired pursuant to the Statewide Economic Development Finance Act".

The 2001 amendment, effective June 15, 2001, inserted "Sales, trades or" in the section heading; in Subsection A, inserted "Except as provided in Section 13-6-3 NMSA 1978, for state agencies", deleted "but less than twenty-five years in duration" following "five years", deleted "or state educational institution" following "school district", and deleted "but less than one hundred thousand dollars" preceding "shall not be valid".