A. Any municipal corporation located in another state and within twenty-five miles of the boundary of the state of New Mexico that has heretofore acquired or hereafter acquires property and facilities for the production, transmission and distribution of electricity, a part of which property and facilities is located in New Mexico, has full rights to own the property and facilities in New Mexico and to enjoy and use the property and facilities in all respects as might a private owner situated in New Mexico. The New Mexico public utility commission shall have general and exclusive power and jurisdiction to regulate and supervise the rates charged and service regulations made by such municipal corporations for electricity supplied by them to consumers in New Mexico in the manner provided for regulation and supervision of rates and service regulations for private corporations under the provisions of the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978] to the same extent that it has now or hereafter may have jurisdiction over private utility corporations, and to do all things necessary and convenient in the exercise of that power and jurisdiction. The municipal corporation shall be subject to the laws of the state of New Mexico now existing or hereafter amended or enacted as to foreign corporations, shall designate a statutory agent resident in New Mexico upon whom process against the municipal corporation may be served and may sue and be sued in this state as a foreign corporation.

B. The state and its political subdivisions, notwithstanding any provisions contained in Chapter 62, Article 1 NMSA 1978, shall assess for taxation the property of any such foreign municipal corporation and shall levy taxes against its property and facilities in New Mexico in the same manner and to the same extent as electric properties owned by private corporations are now or may hereafter be taxed in this state.

C. The provisions of this section shall not operate to prevent a municipal corporation located in another state and further than twenty-five miles from the boundary of the state of New Mexico from owning any interest in a jointly owned generating facility.

History: 1941 Comp., § 72-106, enacted by Laws 1943, ch. 100, § 1; 1953 Comp., § 68-1-6; Laws 1979, ch. 260, § 16; 1993, ch. 282, § 20.

Compiler's notes. — Sections 62-1-1 to 62-1-7 of the Public Utility Act are still effective as the repeal of Chapter 62, Article 1 by Laws 1998, Chapter 108, Section 82, effective July 1, 2003 was repealed prior to taking effect by Chapter 23, Section 1, Laws 2003. Although Laws 2003, Chapter 336, Section 8, amended Laws 1998, Chapter 82, as amended, an amendment of a repealed section is ineffective. See Quintana v. N.M. Dep't of Corrs., 100 N.M. 224, 668 P.2d 1101 (1983). Laws 2003, Chapter 416, Section 5 also repealed Laws 1998, Chapter 108, Section 82, as amended, a second time, however, that repeal is of no effect as the section had previously been repealed by Chapter 23, Section 1, Laws 2003.

The 1993 amendment, effective June 18, 1993, in Subsection A, rewrote the first sentence, divided the former second sentence into the present second and third sentences, in the present second sentence, substituted "New Mexico public utility commission" for "New Mexico public service commission", "them" for "such municipal corporation" preceding "to consumers", and "the Public Utility Act" for "Chapter 84 of the Laws of 1941", and in the present third sentence, added "The" at the beginning and deleted "foreign" preceding "municipal" near the end of the sentence; and, in Subsection B, deleted "of New Mexico" following "state", substituted "Chapter 62, Article 1 NMSA 1978" for "this act", and made minor stylistic changes.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Utilities §§ 374, 385; 71 Am. Jur. 2d State and Local Taxation §§ 438 to 442.

73B C.J.S. Public Utilities §§ 72, 129 to 138; 84 C.J.S. Taxation §§ 118, 184, 427, 444.