New Mexico § 6-27-4 Eligibility requirements; non-individual and individual

New Mexico Statutes

§ 6-27-4 — Eligibility requirements; non-individual and individual

New Mexico § 6-27-4

Ch. 6Public Finances

Art. 27Affordable Housing Act

This text of New Mexico § 6-27-4 (Eligibility requirements; non-individual and individual) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 6-27-4 (2026).

Text

qualifying grantees. A. To be eligible to receive lands, buildings and infrastructure pursuant to Article 9, Section 14 of the constitution of New Mexico, a nonindividual qualifying grantee shall:

(1)have a functioning accounting system that is operated in accordance with generally accepted accounting principles or shall designate an entity that will maintain such an accounting system consistent with generally accepted accounting principles;

(2)have among its purposes significant activities related to providing housing or services to low- or moderate-income persons or households; and (3) if it has significant outstanding or unresolved monitoring findings from either the authority or its most recent independent financial audit, have a certified letter from the authority or auditor stating

Free access — add to your briefcase to read the full text and ask questions with AI

qualifying grantees. A. To be eligible to receive lands, buildings and infrastructure pursuant to Article 9, Section 14 of the constitution of New Mexico, a nonindividual qualifying grantee shall: (1) have a functioning accounting system that is operated in accordance with generally accepted accounting principles or shall designate an entity that will maintain such an accounting system consistent with generally accepted accounting principles; (2) have among its purposes significant activities related to providing housing or services to low- or moderate-income persons or households; and (3) if it has significant outstanding or unresolved monitoring findings from either the authority or its most recent independent financial audit, have a certified letter from the authority or auditor stating that the findings are in the process of being resolved. B. To be eligible to receive lands, buildings and infrastructure pursuant to Article 9, Section 14 of the constitution of New Mexico, an individual qualifying grantee shall meet the requirements established by the authority pursuant to the Affordable Housing Act.