New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 61 - STATE INDEBTEDNESS AND SECURITIES › Part 4 - DISTRIBUTION OF PRIVATE ACTIVITY BOND ALLOCATIONS › Section 2.61.4.8 - DISTRIBUTION OF PRIVATE ACTIVITY BOND ALLOCATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Capitalized terms.
(1) Single family housing purpose bonds shall
				mean private activity bonds issued pursuant to Section 143 of the code or
				mortgage credit certificates issued pursuant to Section 25(c)(2) of the
				code.
(2) Multifamily housing
				purpose bonds shall mean private activity bonds issued pursuant to Section
				142(a)(7) of the code.
(3) Housing
				purpose bonds shall mean single family housing purpose bonds and multifamily
				housing purpose bonds.
(4)
				Education purpose bonds shall mean private activity bonds issued pursuant to
				Section 144(b) of the code.
(5)
				Small issue economic development purpose bonds shall mean private activity
				bonds issued pursuant to Section 144(a) of the code.
(6) Exempt facility purpose bonds shall mean
				private activity bonds requiring an allocation of the state ceiling under the
				code other than education purpose bonds, housing purpose bonds and small issue
				economic development purpose bonds.
(7) Other purpose bonds shall mean small
				issue economic development purpose bonds and exempt facility purpose
				bonds.
(8) Single family housing
				purpose allocation percentage shall mean the percentage, determined annually by
				the board, of the state ceiling that the board finds appropriate to reserve in
				a calendar year for single family housing purpose bonds.
(9) Multifamily housing purpose allocation
				percentage shall mean the percentage, determined annually by the board, of the
				state ceiling that the board finds appropriate to reserve in a calendar year
				for multifamily housing purpose bonds.
(10) Education purpose allocation percentage
				shall mean the percentage, determined annually by the board, of the state
				ceiling that the board finds appropriate to reserve in a calendar year for
				education purpose bonds.
(11) Other
				purpose allocation percentage shall mean the percentage, determined annually by
				the board, of the state ceiling that the board finds appropriate to reserve in
				a calendar year for other purpose bonds.
(12) Single family housing purpose
				carryforward allocation percentage shall mean the percentage (which need not be
				the same as the single family housing purpose allocation percentage),
				determined annually by the board no later than the December meeting of the
				board, of the balance of the state ceiling that can be the subject of a
				carryforward election allocation that the board finds appropriate to allocate
				for carryforward purposes relating to single family housing purpose
				bonds.
(13) Multifamily housing
				purpose carryforward allocation percentage shall mean the percentage (which
				need not be the same as the multifamily housing purpose allocation percentage),
				determined annually by the board no later than the December meeting of the
				board, of the balance of the state ceiling that can be the subject of a
				carryforward election allocation that the board finds appropriate to allocate
				for carryforward purposes relating to multifamily housing purpose
				bonds.
(14) Education purpose
				carryforward allocation percentage shall mean the percentage (which need not be
				the same as the education purpose allocation percentage), determined annually
				by the board no later than the December meeting of the board, of the balance of
				the state ceiling that can be the subject of a carryforward election allocation
				that the board finds appropriate to allocate for carryforward purposes relating
				to education purpose bonds.
(15)
				Other purpose carryforward allocation percentage shall mean the percentage
				(which need not be the same as the other purpose allocation percentage),
				determined annually by the board no later than the December meeting of the
				board, of the balance of the state ceiling that can be the subject of a
				carryforward election allocation that the board finds appropriate to allocate
				for carryforward purposes relating to other purpose bonds.
(16) Allocation percentage means single
				family housing purpose allocation percentage, multifamily housing purpose
				allocation percentage, education purpose allocation percentage and other
				purpose allocation percentage, respectively.
(17) Carryforward allocation percentage means
				single family housing purpose carryforward allocation percentage, multifamily
				housing purpose carryforward allocation percentage, housing purpose
				carryforward allocation percentage, education purpose carryforward allocation
				percentage and other purpose carryforward allocation percentage,
				respectively.