N.M. Stat. Ann. § 13-6-3
History: 1953 Comp., § 6-1-8.1, enacted by Laws 1961, ch. 41, § 1; 1979, ch. 195, § 4; 1987, ch. 15, § 3; 2003, ch. 142, § 4; 2003, ch. 349, § 23; 2025, ch. 76, § 4.
The 2025 amendment, effective July 1, 2025, increased the property valuation threshold for legislative approval for a transaction from one hundred thousand dollars to five hundred fifty thousand dollars; and in Subsection A, after "consideration of" deleted "one hundred thousand dollars ($100,000)" and added "five hundred fifty thousand dollars ($550,000)", and after "trade or lease becoming effective" deleted the remainder of the subsection.
2003 Amendments. — Laws 2003, ch. 349, § 23, 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".
Laws 2003, ch. 142, § 4, effective July 1, 2003, changed the reference to the highway commission to the transportation commission in Subsection B.
Effect of section. — This section is in effect a specific exception to the power of the board of finance to approve other sales of real or personal property belonging to state agencies. 1969 Op. Att'y Gen. No. 69-56.
Generally. — If the consideration for any sale, trade or lease by a state agency, board, department, commission or institution shall be for consideration of $100,000 or more (and for a period exceeding 25 years), it is subject to the ratification and approval of the state legislature prior to such sale, trade or lease becoming effective. 1964 Op. Att'y Gen. No. 64-143.
Condemnation is sale of property. 1969 Op. Att'y Gen. No. 69-144.
99-year lease. — Lease of 99 years entered into by board of directors of Los Lunas hospital and training school had to be approved pursuant to the provisions of this section. Under this section the duration of the lease and remuneration could be negotiated by the parties subject to the approval of either the legislature or the state board of finance depending upon the amount of money involved. 1966 Op. Att'y Gen. No. 66-28.
When other party is also public agency. — Requirement under this section for prior approval by the state legislature is applicable even though the other party to such agreement may be another public agency such as the state land office or the state highway commission [state transportation commission], since the statutory exemption applies only to such bodies. 1964 Op. Att'y Gen. No. 64-143.
State fair commission. — This section necessitates legislative confirmation of any lease of realty of the New Mexico state fair commission for a period exceeding 25 years and which involves a consideration of $100,000 or more. 1964 Op. Att'y Gen. No. 64-92.
Extension of leases. — State law does not require the state fair commission to use a bid or request for proposal when extending leases beyond the term of an existing contract. However, if the current resale value of the property leased exceeds $5,000, the department of finance and administration must, pursuant to this section, approve any extensions. And, if a lease is extended so that it extends beyond the 25-year period specified in this section, legislative approval is required. 1987 Op. Att'y Gen. No. 87-57.
When approval not needed. — The state highway department (now state highway and transportation department [department of transportation]) may condemn lands belonging to the intertribal Indian ceremonial association without legislative approval if the provisions of 42-2-3 NMSA 1978 are complied with. 1969 Op. Att'y Gen. No. 69-144.
School districts not mentioned. — School districts are not here mentioned at all and certainly it cannot be argued that local school districts are agencies, boards, departments, commissions or institutions of this state. 1962 Op. Att'y Gen. No. 62-54.