NMSA 1978, § 7-36-3.2 — Enterprise zone property; tax status of lessee's interests

Property interests of a lessee in project property held under a lease with respect to a
project authorized by the Enterprise Zone Act [5-9-1 to 5-9-15 NMSA 1978] and
acquired or held by a local government are exempt from property taxation for a period
not to exceed ten years from the date of execution of the first lease of the project by the
local government.