MILD
HB 288
VALUE OF LAND LEASED OR SOLD BY CITIES
- Legislative URL:
- HB 288 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- N/A
- Location:
- SJC
- Action:
- [5] HGEIC/HJC-HGEIC [15] DP-HJC [27] DP [29] PASSED/H (64-0) [30] SPAC/SJC-SPAC [41] DP-SJC- DP API.
- Issue(s):
- Land Use & Growth
Related Legislators
- Bill Sponsor:
- Zachary Cook
Related Documents
- Downloads:
-
Introduced
HGEIC Committee Report
HJC Committee Report
Final House Vote
SPAC Committee Report
Fiscal Impact Report
Summary
This bill amends the Municipal Code to increase from $25,000 to $250,000 the maximum value of municipal utility facilities or real property that a municipality may lease, sell or exchange without a referendum. It also increases from $2,500 to $25,000 the maximum value of personal property a municipality may sell without notice.
A possible benefit of this bill might be cost efficiencies for the municipalities by streamlining the disposal of relatively low-value assets, including real property. A concern might be that removing such transactions from the public spotlight may facilitate ill-considered or unethical transactions.