New Mexico § 6-3B-4 Grant management and oversight requirements

New Mexico Statutes

§ 6-3B-4 — Grant management and oversight requirements

New Mexico § 6-3B-4

Ch. 6Public Finances

Art. 3BPublic Finance Accountability

This text of New Mexico § 6-3B-4 (Grant management and oversight requirements) 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. § 6-3B-4 (2026).

Text

The department shall establish grant management and oversight requirements that, at a minimum, require state agencies to: A. ensure that sales, leases and licenses of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee are approved in accordance with applicable law; B. in the event no oversight agency is required to approve of a sale, lease or license of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee, independently confirm that the disposition of capital assets complies with applicable law and that the grantee is receiving adequate consideration in exchange for the capital assets; C. utilize the appropriate capital outlay grant agreement template developed by t

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The department shall establish grant management and oversight requirements that, at a minimum, require state agencies to: A. ensure that sales, leases and licenses of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee are approved in accordance with applicable law; B. in the event no oversight agency is required to approve of a sale, lease or license of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee, independently confirm that the disposition of capital assets complies with applicable law and that the grantee is receiving adequate consideration in exchange for the capital assets; C. utilize the appropriate capital outlay grant agreement template developed by the department; and D. conduct field audits of capital outlay projects, on a statistical or stratified basis, in accordance with procedures and policies prescribed by the department.