SENATE BILL 510

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

George K. Munoz

AN ACT

RELATING TO PUBLIC FINANCE; CLARIFYING THAT CERTAIN NONPROFIT ENTITIES THAT ARE ALSO TRIBAL ORGANIZATIONS MAY APPLY FOR AND IMPLEMENT CAPITAL IMPROVEMENT PROJECTS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. CAPITAL OUTLAY PROJECTS FOR CERTAIN TRIBAL ORGANIZATIONS.--The state recognizes as having the capability and capacity to apply for and implement capital improvement projects a New Mexico nonprofit entity that:

          A. is registered with the public regulation commission;

          B. is a tribal organization of a federally recognized Indian nation, tribe or pueblo located wholly or partly within the exterior boundaries of New Mexico; and

          C. has entered into a self-determination contract with the federal government pursuant to 25 USCA 450f at the request, made by resolution, of the Indian nation, tribe or pueblo.

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2011.

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