Bill > SB128

This bill, titled the Public Land Disclosure and Accountability Act, requires public agencies (which include political subdivisions, school districts, charter schools, public educational institutions, municipalities, and counties) to conduct and submit a report every two years, starting in 2027, detailing all real property they own within metropolitan areas, defined as municipalities or unincorporated areas within five miles of a municipality with at least 2,500 residents. This report must include property descriptions, acquisition dates, current use, and if the property has been vacant (lacking structures and not intended for agency use) or underutilized (having structures but not used for the agency's mission) for five years or longer, a statement of the agency's intent to use or develop it, or a declaration of no such intent. The bill mandates that public agencies, excluding counties and municipalities, must sell any property in metropolitan areas that has been vacant or underutilized for five years or longer and for which they have no development plans. Buyers of such properties are required to begin development, obtain permits, and start construction within twelve months of acquiring the land, or the property title will revert to the original public agency, the buyer will forfeit their interest, and the buyer will be reimbursed their original purchase price. The Department of Finance and Administration will oversee compliance and report any noncompliance to the legislative council, and $100,000 is appropriated for the department to establish an electronic database for these reports.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=128&year=26