reglab/housing_qa huggingface dataset:
NM Stat § 6-20-4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-4 - Issuance of private activity bonds.

A. Except as otherwise provided in the Private Activity Bond Act, all private activity bonds issued by any issuing authority and all mortgage credit certificate elections made by an issuing authority on or after the effective date of the Private Activity Bond Act shall be issued or made pursuant to an unexpired allocation. An issuing authority may issue private activity bonds or make a mortgage credit certificate election using an allocation which has been carried forward from a prior year pursuant to Section 146(f) of the code without obtaining an allocation from the board; provided, however, that the issuing authority shall furnish the board with a confirmation stating that the private activity bonds were issued or the mortgage credit certificate election was made using volume cap which was carried forward from a prior year pursuant to Section 146(f) of the code. B. At any time in any calendar year any issuing authority may submit to the board a request for allocation seeking an allocation from the state private activity bond fund with respect to a proposed issue of private activity bonds or a proposed mortgage credit certificate election. History: Laws 1988, ch. 46, § 4. ANNOTATIONSCompiler's notes. — The phrase "effective date of the Private Activity Bond Act" means March 4, 1988, the effective date of Laws 1988, Chapter 46. The phrase "Section 146(f) of the code" means 26 U.S.C.S. § 146(f) in the Internal Revenue Code of 1986. See 6-20-2 NMSA 1978. Applicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, made the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-5 - Request for allocation.

A request for allocation may be submitted to the board at any time and shall consist of the following: A. a letter from the issuing authority or, in the case of a project, a letter from bond counsel for the issuing authority or the user stating the amount of the state ceiling requested in dollars; B. in the case of a project, a copy of the inducement resolution, certified by an official of the issuing authority, and a statement of bond counsel for the issuing authority or the user that the bonds to be issued are private activity bonds; C. with respect to a request submitted on or after July 1 in any calendar year, in the case of a project, a project plan containing the following, if applicable: (1) a description of the project and its specific location; (2) the estimated number of jobs, both construction and permanent, that can be filled by persons who are residents of the state at the time of submission of the request for allocation; (3) the current use or conditions of the project site; (4) the maximum amount of the bonds to be issued; (5) a proposed starting date and estimated completion date of the construction project; (6) information relating to the feasibility of the proposed project, showing that the project will generate revenues and cash flow sufficient to make payments under the lease or installment sale agreement; (7) the amount and source of private capital that will be used for the project in addition to bond financing; (8) conceptual site plans for the project and a map locating the project area; (9) in the case of qualified residential rental projects, so-called multifamily housing, an explanation of why the housing needs of individuals whose income will make them eligible under Section 142(d) of the code are not being met by existing multifamily housing; (10) any other information that the user believes will aid the board in considering the request for allocation; and (11) any other information specifically requested by the board; D. in the case of a project, a commitment letter from the proposed purchaser or underwriter of the bonds; E. in the case of a mortgage credit certificate election, a letter from the issuing authority stating that a qualified mortgage credit certificate program has been adopted by the issuing authority; and F. such applicable application, allocation and extension fees as are required by rule of the board. History: Laws 1988, ch. 46, § 5; 2005, ch. 153, § 1. ANNOTATIONSCompiler's notes. — The phrase "Section 142(d) of the code" means 26 U.S.C.S. § 142(d). See 6-20-2 NMSA 1978. The 2005 amendment, effective June 17, 2005, added Subsection F to provide that a request for allocation shall include the applicable fees required by rule of the board.
NM Stat § 6-20-6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-6 - Allocation.

After considering a request for allocation, the board may within a reasonable time, as determined by the board, issue an allocation; provided, however, that an allocation requested by an issuing authority pursuant to Subsection A or B of Section 3 [6-20-3 NMSA 1978] of the Private Activity Bond Act shall be issued by the board within a reasonable time after a request for allocation is submitted to the board. An allocation shall state the amount, in dollars, of the state ceiling allocated, and shall state the allocation expiration date. History: Laws 1988, ch. 46, § 6. ANNOTATIONSApplicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-7 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-7 - Carryforward election allocations.

An issuing authority may submit to the board a request for carryforward election allocation with respect to private activity bonds proposed to be issued to finance bonds for a specified carryforward purpose. The date for submission of such requests shall be established by the board annually. A separate request must be submitted for each carryforward purpose, except that a request for carryforward election allocation with respect to qualified student loan bonds or qualified mortgage bonds may cover all proposed issuances of student loan bonds and qualified mortgage bonds. Not later than December 26 of a calendar year or the next business day if December 26 is a holiday, the board shall issue carryforward election allocations in amounts determined by the board, to the extent that sufficient amounts are available in the state private activity bond fund and the requirements of the Private Activity Bond Act are satisfied. A request for carryforward election allocation shall contain the same information and materials required to be included in a request for allocation. History: Laws 1988, ch. 46, § 7. ANNOTATIONSApplicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-8 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-8 - Confirmation of issuance of private activity bonds and mortgage credit certificate election.

Within seven business days after an issuing authority issues any private activity bonds or makes a mortgage credit certificate election, the issuing authority or, in the case of a project, bond counsel for the issuing authority or the user, shall advise the board by letter of the date the bonds were issued and the total aggregate amount of the issue or, in the case of a mortgage credit certificate election, the date and the amount of the election. History: Laws 1988, ch. 46, § 8. ANNOTATIONSApplicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-9 - Assignments of allocations and carryforward election allocations.

Allocations and carryforward election allocations are not assignable by an issuing authority. History: Laws 1988, ch. 46, § 9. ANNOTATIONSApplicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-10 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-10 - Extensions.

The allocation expiration date may be extended by the board for each allocation; provided, however, that the allocation expiration date for any allocation shall automatically be extended for thirty days with respect to that part of the allocation used by an issuing authority for private activity bonds which have been sold but not issued on or before the allocation expiration date. History: Laws 1988, ch. 46, § 10. ANNOTATIONSApplicability. — Laws 1988, ch. 46, § 12, effective March 4, 1988, makes the Private Activity Bond Act effective retroactive to January 1, 1988, and applicable to all private activity bonds issued after that date.
NM Stat § 6-20-11 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 20 - Private Activity Bonds|Section 6-20-11 - Administrative duties of the board.

The board: A. shall maintain the official state records pertaining to the state ceiling, requests for allocation submitted, requests for carryforward election allocations submitted, allocations issued, carryforward election allocations issued, confirmations submitted and any other records required for administration of the Private Activity Bond Act; B. may issue, on behalf of the governor, any certification required by the code or the regulations setting forth information concerning the state ceiling and Section 146 of the code; and C. may, by rule, require a reasonable application fee, allocation deposit and extension fee to be paid by the issuing authority. Application and extension fees collected by the board shall be deposited in the general fund. Allocation deposits shall be held by the board in a liability suspense account and after a determination has been made by the board that the allocation has been used for the intended purpose, may, at the discretion of the board, be refunded in whole or in part to the applicant. Otherwise, the allocation deposit shall be deposited in the general fund. History: Laws 1988, ch. 46, § 11; 2005, ch. 153, § 2. ANNOTATIONSCompiler's notes. — The phrase "Section 146 of the code" means 26 U.S.C.S. § 146. See 6-20-2 NMSA 1978. The 2005 amendment, effective June 17, 2005, added Subsection C to require the board to require by rule for application and extension fees and an allocation deposit; to require that fees be deposited in the general fund and that allocation deposits be held in a liability suspense fund which may be refunded to the applicant when the board determines that the allocation has been used for its intended purpose.
NM Stat § 6-21-1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-1 - Short title.

Chapter 6, Article 21 NMSA 1978 may be cited as the "New Mexico Finance Authority Act". History: Laws 1992, ch. 61, § 1; 2003, ch. 325, § 1. ANNOTATIONSCompiler's notes. — The New Mexico Finance Authority Act, enacted by Laws 1992, ch. 61, is compiled as 6-21-1 to 6-21-5, 6-21-6, 6-21-7 to 6-21-31 NMSA 1978. The 2003 amendment, effective June 20, 2003, substituted "Chapter 6, Article 21 NMSA 1978" for "Sections 1 through 29 of this act".
NM Stat § 6-21-2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-2 - Legislative findings; declaration of purpose.

A. The legislature finds that: (1) there are necessary state and local capital improvement and infrastructure needs that cannot be met with existing capital financing methods and funding sources; (2) there is no coordinating entity or process for accomplishing long-term state and local capital planning, needs assessment or inventory of needs; setting priorities; and making more effective use of existing capital financing methods and funding sources; (3) the uncertain nature of revenues available from the proceeds of severance tax bonds and other state and local revenues have frustrated state and local government efforts to finance needed state and local capital projects; and (4) in order to meet public capital and infrastructure needs, a central state mechanism to coordinate the planning and financing of public projects is necessary. B. It is the purpose of the New Mexico Finance Authority Act to create a governmental instrumentality to coordinate the planning and financing of state and local public projects, to provide for long-term planning and assessment of state and local capital needs and to improve cooperation among the executive and legislative branches of state government and local governments in financing public projects. C. It is the further purpose of the New Mexico Finance Authority Act to provide financing for public projects in a manner that will not impair the capacity of the public project revolving fund to provide future financing to qualified entities for public projects. Funding shall not be provided from the public project revolving fund unless revenues in an amount sufficient to avoid a negative impact on the financing capacity of the public project revolving fund are contemporaneously pledged or dedicated for deposit to the public project revolving fund. Pursuant to Section 6-21-6.1 NMSA 1978, the authority may provide funding from the public project revolving fund for the purposes of the Wastewater Facility Construction Loan Act [Chapter 74, Article 6A NMSA 1978], the Rural Infrastructure Act [Chapter 75, Article 1 NMSA 1978], the Solid Waste Act [74-9-1 to 74-9-42 NMSA 1978] or the Drinking Water State Revolving Loan Fund Act [6-21A-1 to 6-21A-9 NMSA 1978]. History: Laws 1992, ch. 61, § 2; 2000, ch. 80, § 1. ANNOTATIONSThe 2000 amendment, effective March 7, 2000, added Subsection C.
NM Stat § 6-21-5.1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-5.1 - Bonds for county correctional facility loans.

The authority may issue bonds for a county to design, construct, equip, furnish and otherwise improve a county correctional facility pursuant to the County Correctional Facility Gross Receipts Tax Act only after a majority of the qualified electors of the county has voted to allow the county to impose a county correctional facility gross receipts tax in the amount needed to repay bonds issued by the authority for the purpose of designing, constructing, equipping, furnishing and otherwise improving a county correctional facility. History: Laws 1998, ch. 65, § 1; 2019, ch. 212, § 208. ANNOTATIONSThe 2019 amendment, effective April 3, 2019, deleted "registered" preceding "qualified electors".
NM Stat § 6-21-5.2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-5.2 - Report to legislature; authorizing instrument; delegation of authority for public securities issuances.

By September 30 of each year, the authority shall report to the New Mexico finance authority oversight committee about the authority's public securities issuances, completed in the prior twelve months, that involved a delegation of authority through an authorizing instrument pursuant to Section 2 [6-14-10.2 NMSA 1978] of this 2017 act. History: Laws 2017, ch. 120, § 3. ANNOTATIONSEffective dates. — Laws 2017, ch. 120, § 4 made Laws 2017, ch. 120, § 3 effective July 1, 2017.
NM Stat § 6-21-6.2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-6.2 - Expired.

History: Laws 1999, ch. 4, § 2; 2002, ch. 52, § 1. ANNOTATIONSExpired provisions. — The provisions of 6-21-6.2 NMSA 1978, as enacted by Laws 1999, ch. 4, § 2, relating to the public project revolving fund and emergency public projects, expired on June 30, 2005. For provisions of the former section, see the 2019 NMSA on NMOneSource.com.
NM Stat § 6-21-6.4 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-6.4 - Local government planning fund; creation; administration; purposes.

A. The "local government planning fund" is created within the authority and shall be administered by the authority. The authority shall adopt rules necessary to administer the fund. B. The following shall be deposited directly into the local government planning fund: (1) the net proceeds from the sale of bonds issued pursuant to the provisions of Section 6-21-6.1 NMSA 1978 for the purposes of the local government planning fund and payable from the public project revolving fund; (2) money appropriated by the legislature to implement the provisions of this section; and (3) any other public or private money dedicated to the fund. C. Money in the local government planning fund is appropriated to the authority to make grants to qualified entities; to evaluate and to estimate the costs of implementing the most feasible alternatives for infrastructure, water and wastewater public project needs or to develop water conservation plans, long-term master plans, economic development plans or energy audits; and to pay the administrative costs of the local government planning program. D. The authority shall adopt rules governing the terms and conditions of grants made from the local government planning fund. E. The authority may make grants from the local government planning fund to qualified entities without specific authorization by law for each grant. History: Laws 2002, ch. 26, § 2; 2005, ch. 180, § 1; 2012, ch. 49, § 1. ANNOTATIONSThe 2012 amendment, effective March 6, 2012, expanded the purpose of the local government planning fund to include infrastructure and energy audits; removed the requirement that certain grants be repaid; in Subsection C, after "feasible alternatives for", deleted "meeting" and added "infrastructure" and after "economic development plans", added "or energy audits"; and in Subsection D, deleted the former second sentence, which provided that the qualified entity had to agree to reimburse the fund when financing from any other source was received by the qualified entity. Appropriations. — Laws 2012, ch. 49, § 2, effective March 6, 2012, appropriated $2,000,000 from the public project revolving fund to the local government planning fund for expenditure in fiscal year 2012 and subsequent fiscal years to fund local government planning for water or wastewater system development, economic development or long-term water management and water conservation strategies. The 2005 amendment, effective July 1, 2005, changed the name of the "water and wastewater planning fund" to the "local government planning fund"; provided in Subsection C that money in the fund is appropriated for grants to evaluate and estimate the costs to develop water conservation plans, long-term master plans or economic development plans; and provided in Subsection D that the qualified entity must agree to reimburse the fund when financing from any source other than the authority is received by the entity.
NM Stat § 6-21-6.5 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-6.5 - New Mexico finance authority revenue bonds; purposes.

The New Mexico finance authority may issue and sell revenue bonds payable from the public project revolving fund in compliance with the New Mexico Finance Authority Act in installments or at any one time in an amount not to exceed one million dollars ($1,000,000), the net proceeds of which shall be deposited in the water and wastewater planning fund and used for the purposes of the fund. History: Laws 2002, ch. 26, § 3. ANNOTATIONSEmergency clauses. — Laws 2002, ch. 26, § 4 contained an emergency clause and was approved March 4, 2002.
NM Stat § 6-21-6.6 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-6.6 - Repealed.

History: Laws 2003, ch. 325, § 3; repealed by Laws 2006, ch. 65, § 4. ANNOTATIONSRepeals. — Laws 2006, ch. 65, § 4, repealed 6-21-6.6 NMSA 1978, as enacted by 2003, ch. 325, § 3, relating to authorization for urgent economic development public projects, effective June 30, 2009. For provisions of former section, see the 2005 NMSA 1978 on NMOneSource.com.
NM Stat § 6-21-6.9 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 21 - Finance Authority|Section 6-21-6.9 - Local transportation project revenue bonds; issuance.

A. The authority may issue and sell local transportation project revenue bonds in compliance with the New Mexico Finance Authority Act in an amount outstanding at any one time of not more than twenty million dollars ($20,000,000) payable from the local transportation infrastructure fund. The bonds may be issued at times and on terms established by the authority. B. The net proceeds from the sale of local transportation project revenue bonds are appropriated to the local transportation infrastructure fund for local transportation projects described in Section 6-21-6.8 NMSA 1978. C. As security for the payment of the principal, interest or premium, if any, on local transportation project revenue bonds issued by the authority, the authority is authorized to pledge, transfer and assign: (1) any obligation that is payable to the authority for deposit into the local transportation infrastructure fund; (2) money in the local transportation infrastructure fund or a subaccount of that fund; and (3) one-half of the annual administrative fee received by the authority for issuing state transportation bonds pursuant to Sections 67-3-59.3 and 67-3-59.4 NMSA 1978. D. All local transportation project revenue bonds issued by the authority shall be obligations of the authority payable solely from the revenues, income and money of the authority deposited into the local transportation infrastructure fund. The bonds shall not create an obligation, debt or liability of the state and no breach of any pledge, obligation or agreement of the authority shall impose a pecuniary liability or charge upon the general credit or taxing power of the state or any political subdivision of the state. E. Any law authorizing or affecting the imposition or distribution of the annual administrative fee received by the authority for issuing state transportation revenue bonds pursuant to Sections 67-3-59.3 and 67-3-59.4 NMSA 1978 or that affects the annual administrative fee shall not be amended, repealed or otherwise directly or indirectly modified so as to impair or reduce debt service coverage for any outstanding local transportation project revenue bonds that may be secured by a pledge of those annual administrative fee revenues, unless the local transportation project revenue bonds have been discharged in full or provisions have been made for a full discharge. F. The authority may purchase local transportation project revenue bonds with money in the public project revolving fund pursuant to the provisions of Section 6-21-6 NMSA 1978. History: Laws 2005, ch. 262, § 2. ANNOTATIONSEffective dates. — Laws 2005, ch. 262 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.