0001|                            HOUSE BILL 308
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                              RON GENTRY
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO TAXATION; AMENDING A SECTION OF THE NMSA 1978
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0012|     REGARDING DELINQUENT TAX AUCTIONS; PROVIDING FOR LAND GRANT
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0013|     PARTICIPATION IN BIDDING; MAKING AN APPROPRIATION.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|          Section 1.  Section 7-38-67 NMSA 1978 (being Laws 1973,
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0017|     Chapter 258, Section 107, as amended) is amended to read:
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0018|          "7-38-67.  REAL PROPERTY SALE REQUIREMENTS.--
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0019|               A.  Real property may not be sold for delinquent
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0020|     taxes before the expiration of three years from the first date
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0021|     shown on the tax delinquency list on which the taxes on the
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0022|     real property became delinquent.
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0023|               B.  Notice of the sale <s>[must]</s> <u>shall</u> be
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0024|     published in a newspaper of general circulation within the
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0025|     county where the real property is located at least once a week
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0001|     for the three weeks immediately preceding the week of the
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0002|     sale.  The notice shall state the time and place of the sale
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0003|     and shall include a description of the real property suffi-
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0004|     
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0005|     cient to permit its identification and location by potential
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0006|     purchasers.
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0007|               C.  Real property shall be sold at public auction
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0008|     either by the department or an auctioneer hired by the
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0009|     department.  The auction shall be held in the county where the
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0010|     real property is located at a time and place designated by the
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0011|     department.
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0012|               D.  If the real property can be divided so as to
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0013|     enable the department to sell only part of it and pay all
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0014|     delinquent taxes, penalties, interest and costs, the
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0015|     department may, with the consent of the owner, sell only a
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0016|     part of the real property.
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0017|               E.  Before the sale, the department shall determine
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0018|     a minimum sale price for the real property.  In determining
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0019|     the minimum price, the department shall consider the value of
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0020|     the property owner's interest in the real property, the amount
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0021|     of all delinquent taxes, penalties and interest for which it
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0022|     is being sold and the costs.  The minimum price shall not be
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0023|     less than the total of all delinquent taxes, penalties,
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0024|     interest and costs.  Real property may not be sold for less
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0025|     than the minimum price unless no offer met the minimum price
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0001|     when it was offered at an earlier public auction.  A sale
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0002|     properly made under the authority of and in accordance with
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0003|     the requirements of this section constitutes full payment of
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0004|     all delinquent taxes, penalties and interest that are a lien
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0005|     against the property at the time of sale, and the sale extin-
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0006|     
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0007|     guishes the lien.
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0008|               F.  Payment shall be made in full by the close of
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0009|     the public auction before an offer may be deemed accepted by
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0010|     the department.
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0011|               G.  Real property not offered for sale may be
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0012|     offered for sale at a later sale, but the requirements of this
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0013|     section and Section 7-38-66 NMSA 1978 shall be met in
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0014|     connection with each sale.
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0015|               <u>H.  A bid made at a public auction by a community
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<u></u>0016| <u>    land grant described in Chapter 49 NMSA 1978 and functioning
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<u></u>0017| <u>    under the laws of the state shall be considered the highest
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<u></u>0018| <u>    bid at that public auction and shall entitle the land grant to
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<u></u>0019| <u>    purchase the property for the amount bid if:
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<u></u>0020| <u>                   (1)  the property is situated within the
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<u></u>0021| <u>    boundaries of that land grant as contained in the United
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<u></u>0022| <u>    States patent to the community land grant; and
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<u></u>0023| <u>                   (2)  the bid is made in the amount of all past
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<u></u>0024| <u>    taxes, penalties, interest and costs due on the property.</u>"
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0025|          Section 2.  APPROPRIATION.--Twenty thousand dollars
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0001|     ($20,000) is appropriated from the general fund to the local
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0002|     government division of the department of finance and
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0003|     administration for expenditure in fiscal year 1999 for the
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0004|     purpose of aiding participation of community land grants in
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0005|     bidding for appropriate properties for sale through delinquent
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0006|     tax auctions.  Any unexpended or unencumbered balance
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0007|     remaining at the end of fiscal year 1999 shall revert to the
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0008|     general fund.
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0009|                                   
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