This bill amends several sections of the New Mexico Statutes regarding the disposition of public property by state agencies, local public bodies, and school districts. Notably, it changes the threshold for state board of finance approval for sales, trades, or leases of property from a value of $150,000 to $550,000 for transactions exceeding twenty-five years in duration. Additionally, it establishes that prior approval from the appropriate authority is not required for the sale or disposition of real or tangible personal property valued at less than $30,000. The bill also clarifies the right of first refusal for the surplus property bureau of the transportation services division when disposing of tangible personal property.

Furthermore, the bill outlines the procedures for the disposal of obsolete, worn-out, or unusable tangible personal property, including the requirement for a committee to oversee the disposition and notification to the state auditor. It specifies that if a governing authority cannot dispose of property through the outlined methods, it may destroy or permanently dispose of the property in accordance with applicable laws. The effective date for these provisions is set for July 1, 2025.

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