The bonds authorized by the Municipal Mortgage Finance Act and the income from the bonds shall be exempt from all taxation by the state or any political subdivision thereof, subject to the provisions of the Banking and Financial Corporations Tax Act.
History: Laws 1979, ch. 381, § 11.
ANNOTATIONSCompiler's notes. — The Banking and Financial Corporations Tax Act, referred to in this section, was compiled as 7-6-1 NMSA 1978 et seq., and was repealed by Laws 1981, ch. 37, § 97. For present provisions, see the Corporate Income and Franchise Tax Act, 7-2A-1 NMSA 1978.