2020 New Mexico Statutes
Chapter 7 - Taxation
Article 27 - Severance Tax Bonding Act
Section 7-27-10 - State board of finance shall issue bonds.
A. The state board of finance is authorized to issue and sell severance tax bonds within the provisions of the Severance Tax Bonding Act, and no other agency of the state is authorized to issue or sell severance tax bonds.
B. The state board of finance may issue and sell supplemental severance tax bonds within the provisions of the Severance Tax Bonding Act, and no other agency of the state is authorized to issue or sell supplemental severance tax bonds. As a temporary measure for fiscal year 2019, the state board of finance shall not issue and sell more than one hundred eighty-one million eight hundred thousand dollars ($181,800,000) of supplemental severance tax bonds or notes.
History: 1953 Comp., § 72-18-35, enacted by Laws 1961, ch. 5, § 8; 1999 (1st S.S.), ch. 6, § 4; 2019, ch. 273, § 1.
ANNOTATIONSThe 2019 amendment, effective June 14, 2019, provided that for fiscal year 2019, the state board of finance shall not issue and sell more than one hundred eighty-one million eight hundred thousand dollars of supplemental severance tax bonds or notes; and in Subsection B, added "As a temporary measure for fiscal year 2019, the state board of finance shall not issue and sell more than one hundred eighty-one million eight hundred thousand dollars ($181,800,000) of supplemental severance tax bonds or notes".
The 1999 amendment, effective July 1, 1999, added the Subsection A designation, added Subsection B, and made a minor stylistic change.
