New Mexico SB240 authorizes the issuance of severance tax bonds for capital outlay projects, including cultural, veterans', and public education.
New Mexico SB240 authorizes the issuance of severance tax bonds for various capital outlay projects. It allocates funds for cultural affairs, including improvements to museums and historic sites. It also provides funding for veterans' services, specifically for veteran cemeteries and memorials. Additionally, the bill allocates funds from the public school capital outlay fund for the purchase of district-owned school buses. The bill establishes conditions for the expenditure of severance tax bond proceeds, including limitations on the use of unexpended balances and reversion timelines.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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