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. ANNOTATIONSThe 2010 amendment, effective March 8, 2010, deleted former Subsection C, which defined 'eligible taxpayer' as an entity that qualifies as an y: Laws 2009, ch. 154, § 2; 2010, ch. 56, § 2. ANNOTATIONSThe 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'.
New Mexico Legal Code