Sales, trades or leases; state board of finance approval

A. Except for sales, trades or leases approved pursuant to Section 13-6-3 NMSA 1978, any sale, trade or lease of real property belonging to a state agency, local public body or school district for more than five years or for a consideration of more than one hundred fifty thousand dollars ($150,000) shall be approved by the state board of finance prior to its effective date. 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 [Chapter 6, Article 25 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; 2025, ch. 76, § 3.