PUBLIC LAND DISCLOSURE & ACCOUNTABILITY ACT

SB0128

SENATE BILL 128

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Antonio Maestas

AN ACT

RELATING TO PUBLIC PROPERTY; ENACTING THE PUBLIC LAND
DISCLOSURE AND ACCOUNTABILITY ACT; PROVIDING FOR AN INVENTORY
OF REAL PROPERTY IN METROPOLITAN AREAS OWNED BY A PUBLIC AGENCY
EVERY TWO YEARS; REQUIRING THAT CERTAIN PUBLIC AGENCIES DISPOSE
OF REAL PROPERTY IN METROPOLITAN AREAS THAT HAS BEEN
UNDERUTILIZED OR VACANT FOR FIVE YEARS OR LONGER; IMPOSING
DEVELOPMENT OBLIGATIONS ON BUYERS; MAKING AN APPROPRIATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

SECTION 1.
[
NEW MATERIAL
] SHORT TITLE.--This act may be
cited as the "Public Land Disclosure and Accountability Act".

SECTION 2.
[
NEW MATERIAL
] FINDINGS AND PURPOSE.--The
legislature finds public agencies own significant parcels of
land in metropolitan areas that are vacant or underutilized,
are exempt from property taxation and have no foreseeable
public purpose. This results in lost revenue and opportunities
to increase the state's economic development, tax base and
available housing. As such, the purpose of the Public Land
Disclosure and Accountability Act is to benefit the state and
its local communities by maximizing the productivity of land,
stimulating economic activity and expanding the tax base by
providing transparency in the use and ownership of land owned
by public agencies through regular disclosures and mandating
the sale of vacant and underutilized land.

SECTION 3.
[
NEW MATERIAL
] DEFINITIONS.--As used in the
Public Land Disclosure and Accountability Act:

A. "metropolitan area" means a municipality or an
unincorporated area within five miles of the boundaries of a
municipality with a population of at least two thousand five
hundred according to the most recent federal decennial census;

B. "public agency" means a political subdivision of
the state, school district, state-chartered charter school,
public post-secondary educational institution, municipality or
county in New Mexico;

C. "underutilized" means real property owned by a
public agency containing physical structures or infrastructure
improvements that is not being used in furtherance of the
agency's mission; and

D. "vacant" means real property owned by a public
agency without physical structures or infrastructure
improvements that is not intended to be used in furtherance of
the agency's mission.

SECTION 4.
[
NEW MATERIAL
] LAND DISCLOSURE REPORT.--

A. Beginning in 2027 and every two years
thereafter, a public agency shall, by July 1 of that year,
submit to the department of finance and administration a land
inventory report of all real property located in each
metropolitan area in which the public agency owns real property
and electronically publish the report in a searchable database
on the agency's website.

B. The report shall include, for each real
property:

(1) a legal description, location and parcel
size;

(2) the date the real property was acquired;

(3) the current use or a statement that the
real property is vacant or underutilized; and

(4) if the real property has been vacant or
underutilized for five years or longer, a statement of intent
to use or develop the real property and a projected time line
or a statement that the agency has no intent to use or develop
the real property.

C. The department of finance and administration
shall electronically publish all reports submitted pursuant to
this section in a searchable database.

SECTION 5.
[
NEW MATERIAL
] MANDATORY DISPOSITION--UNDERUTILIZED OR VACANT LAND--CONDITION OF SALE.--Except for
counties and municipalities, a public agency shall dispose of
real property in metropolitan areas that has been vacant or
underutilized for five years or longer and that the public
agency has no intent to use or develop. A contract for the
sale of vacant or underutilized real property shall contain a
provision requiring the buyer to initiate development, obtain
all required construction permits and commence construction
within twelve months of the date of transfer of title. If
these requirements are not met and no written extension has
been executed by the grantor public agency, title to the real
property shall revert to the grantor public agency free and
clear, and the buyer shall forfeit its interest in the real
property and hold the public agency harmless from any and all
claims that arose or may arise from any actions during the
interim. Upon reversion, the buyer shall be reimbursed at the
original sale price.

SECTION 6.
[
NEW MATERIAL
] COMPLIANCE.--Beginning in 2027
and in every year thereafter, the department of finance and
administration shall monitor compliance with the requirements
of the Public Land Disclosure and Accountability Act and, no
later than October 1 of each year beginning in 2027, report any
noncompliance to the New Mexico legislative council.

SECTION 7.
APPROPRIATION.--One hundred thousand dollars
($100,000) is appropriated from the general fund to the
department of finance and administration for expenditure in
fiscal year 2027 to electronically publish reports submitted to
the department in compliance with the provisions of the Public
Land Disclosure and Accountability Act. Any unexpended balance
remaining at the end of fiscal year 2027 shall revert to the
general fund.

SECTION 8.
EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2026.

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