SENATE BILL 458

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Pete Campos

AN ACT

RELATING TO PRIVATE ACTIVITY BONDS; ALLOWING THE STATE BOARD OF FINANCE TO CHARGE ALLOCATION, APPLICATION AND EXTENSION FEES.

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

     Section 1. Section 6-20-11 NMSA 1978 (being Laws 1988, Chapter 46, Section 11) is amended to read:

     "6-20-11. ADMINISTRATIVE DUTIES OF THE BOARD.--

          A. The board shall maintain the official state records pertaining to the state ceiling, requests for allocation submitted, requests for carryforward election allocations submitted, allocations issued, carryforward election allocations issued, confirmations submitted and any other records required for administration of the Private Activity Bond Act.

          B. The board may charge fees up to the maximum amounts on the following schedule:

                (1) application fee, one thousand dollars ($1,000);

                (2) allocation fee, one-half cent ($0.005) per dollar of specific allocation; and

                (3) extension fee, one thousand five hundred dollars ($1,500).

          C. The board may issue, on behalf of the governor, any certification required by the code or the [regulations] rules setting forth information concerning the state ceiling and Section 146 of the code."

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