New Mexico Statutes 6-26-3. Definitions
As used in the Behavioral Health Capital Funding Act:
Terms Used In New Mexico Statutes 6-26-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A. “authority” means the New Mexico finance authority;
B. “capital project” means acquisition, repair, renovation or construction of a behavioral health facility; purchase of land; or acquisition of capital equipment;
C. “department” means the human services department [health care authority department];
D. “eligible entity” means:
(1) a nonprofit behavioral health facility that 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;
E. “fund” means the behavioral health capital fund;
F. “operating capital” means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; and
G. “project” means a capital project or operating capital needed to support the increase of behavioral health services to sick and medically indigent persons.