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. The authority 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.
History: Laws 2004, ch. 71, § 4; 2019, ch. 156, § 2.
ANNOTATIONSThe 2019 amendment, effective June 14, 2019, authorized the New Mexico finance authority to recover from the behavioral health capital fund the costs of administering the fund and originating loans; in Subsection C, after "The authority", deleted "or department shall not be paid" and added "may recover", and after "from the fund", added "the costs of administering the fund and originating loans up to an amount equal to ten percent of original loan amounts".