The bill amends existing laws regarding the disposition of tangible personal property by state agencies, local public bodies, and school districts in New Mexico. It raises the threshold for state board of finance approval for sales, trades, or leases of property from $5,000 to $30,000, and for real property transactions from $25,000 to $150,000. Additionally, it increases the threshold for real property transactions requiring legislative approval from $100,000 to $550,000. The bill also clarifies that school districts are included in the governing authorities that can dispose of property and establishes that the right of first refusal for surplus property applies to school districts as well.

Furthermore, the bill modifies definitions to include school districts explicitly and removes references to state educational institutions in various sections. It mandates that any tangible personal property deemed hazardous must be destroyed, and it specifies that K-9 dogs that pose no threat to public safety should be offered to their handlers or trainers before being sold or donated. The effective date for these changes is set for July 1, 2025.

Statutes affected:
introduced version: 13-6-1, 13-6-2, 13-6-2.1, 13-6-4