us-nm/stat
NMSA 1978, § 7-7-18 — Procedure for payment in works of art
A.
The personal representative desiring to pay all or part of an estate tax owed the
state in the form of one or more works of art shall first obtain an appraisal of the work
acceptable to the federal internal revenue service and shall then notify the museum
director in writing of the desire to offer the work to the museum. The board shall, within
a reasonable period of time and upon the recommendation of the museum director,
notify the personal representative and the division in writing as to whether in the
judgment of the board it would be advantageous to the state to accept the one or more
works of art as payment or partial payment for the estate tax. The board's decision shall
be final and not appealable.
B.
Acceptance of a work of art shall be deemed advantageous to the state if its
acceptance meets the following criteria:
(1) it encourages growth of the museum's collections by the addition of
significant and original works of art;
(2) it furthers the preservation and understanding of the arts traditions which
exist in New Mexico;
(3) it furthers the appreciation of arts and cultures by the people of New
Mexico; or
(4) it is compatible with the standards and collections policies of the museum.
Source: official text