REAL PROPERTY FROM HEALTH- RELATED EQUIPMENT

HB 46 modifies New Mexico's Hospital Equipment Loan Act to clarify tax exemptions for health-related equipment. It removes real property from the definition of "health-related equipment" and specifies that real property first purchased before July 1, 2025, but later refinanced or repurchased on or after that date, will lose its property tax exemption. This change directly affects hospitals and health facilities that use bonds issued under the Hospital Equipment Loan Act to finance equipment or real property. The bill ensures tax exemption only applies to equipment not involving real property, with the policy change taking effect July 1, 2025.