As used in the Qualified School Construction Bonds Act:
A. "allocation" means New Mexico's allocation of the national qualified school construction bond limitation pursuant to Section 1521 of the federal American Recovery and Reinvestment Act of 2009;
B. "council" means the public school capital outlay council;
C. "qualified school construction bond" means a bond issued by the state or a school district that meets all of the requirements of Section 22-18C-3 NMSA 1978 and the requirements for a qualified school construction bond pursuant to Section 1521 of the federal American Recovery and Reinvestment Act of 2009; and
D. "qualifying school" means a public school, a New Mexico state educational institution providing education or training below the post-secondary level or a program within such a public school or educational institution and which school, institution or program meets the requirements of Section 1521 of the federal American Recovery and Reinvestment Act of 2009.
History: Laws 2009, ch. 154, § 2; 2010, ch. 56, § 2.
The 2010 amendment, effective March 8, 2010, deleted former Subsection C, which defined "eligible taxpayer" as an entity that qualifies as an eligible taxpayer under the Internal Revenue Code; and in Subsection C, deleted "3 of the Qualified School Construction Bonds Act" and added "22-18C-3 NMSA 1978".
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