SENATE BILL 128
54th legislature - STATE OF NEW MEXICO - first session, 2019
Mary Kay Papen
ENDORSED BY THE NEW MEXICO
FINANCE AUTHORITY OVERSIGHT COMMITTEE
RELATING TO PUBLIC FINANCE; MAKING CERTAIN LOCAL GOVERNMENT-OWNED BEHAVIORAL HEALTH CARE CLINICS ELIGIBLE FOR BEHAVIORAL HEALTH CAPITAL FUNDING; ALLOWING THE NEW MEXICO FINANCE AUTHORITY TO RECEIVE COMPENSATION FROM THE BEHAVIORAL HEALTH CAPITAL FUND FOR ITS COSTS OF ADMINISTERING THE BEHAVIORAL HEALTH CAPITAL FUNDING ACT; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 6-26-3 NMSA 1978 (being Laws 2004, Chapter 71, Section 3) is amended to read:
"6-26-3. DEFINITIONS.--As used in the Behavioral Health Capital Funding Act:
A. "authority" means the New Mexico finance authority;
B. "capital project" means repair, renovation or construction of a behavioral health facility; purchase of land; or acquisition of capital equipment of a long-term nature;
C. "department" means the department of health;
D. "eligible entity" means:
(1) a nonprofit behavioral health facility that [has assets totaling less than ten million dollars ($10,000,000)] is a 501(c)(3) nonprofit corporation for federal income tax purposes and serves primarily sick and indigent patients; or
(2) a behavioral health care clinic that operates in a rural or other health care underserved area of the state, that is owned by a county or municipality and that meets department requirements for eligibility; and
E. "fund" means the behavioral health capital fund."
SECTION 2. Section 6-26-4 NMSA 1978 (being Laws 2004, Chapter 71, Section 4) is amended to read:
"6-26-4. BEHAVIORAL HEALTH CAPITAL FUND.--
A. The "behavioral health capital fund" is created as a revolving fund in the authority. The fund shall consist of appropriations, loan repayments, gifts, grants, donations and interest earned on investment of the fund. Money in the fund shall not revert at the end of a fiscal year.
B. Money in the fund is appropriated to the authority for the purpose of making loans to eligible entities for capital projects pursuant to the Behavioral Health Capital Funding Act.
C. The fund shall be administered by the authority. [Administrative costs of] The authority [or department shall not be paid] may recover from the fund the costs of administering the fund and originating loans up to an amount equal to ten percent of original loan amounts."
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