A. There is created a public body politic and corporate, separate and apart from the state, constituting a governmental instrumentality to be known as the "New Mexico hospital equipment loan council" for the performance of essential public functions.

B. The council shall be governed by a board of directors consisting of five members. The governor, with the advice and consent of the senate, shall appoint the members of the board.

C. Each member of the board shall be a resident of the state, and in addition:

1. (1) two members shall be officers or directors of financial institutions located in New Mexico;
2. (2) two members shall be officers or directors of a health facility located in New Mexico. Such members shall have been employed for a total of five years as officers or directors of any health facility;
3. (3) one member shall be appointed from and represent the public and shall not be directly or indirectly affiliated with any health facility; and

4. (4) no more than three members shall be of the same political party.

   D. The council shall be separate and apart from the state and shall not be subject to the supervision or control of any board, bureau, department or agency of the state except as specifically provided in the Hospital Equipment Loan Act. In order to effectuate the separation of the state from the council, no use of the terms "state agency" or "instrumentality" in any other law of the state shall be deemed to refer to the council unless the council is specifically referred to therein, except that the council is a state agency and instrumentality for the purposes of Article 8, Section 3 of the constitution of New Mexico.

History: Laws 1983, ch. 290, § 5; 1986, ch. 60, § 6; 1987, ch. 49, § 2; 2006, ch. 90, § 2; 2006, ch. 92, § 2.

ANNOTATIONS

2006 amendments. — Laws 2006, ch. 90, § 2 and Laws 2006, ch. 92, § 2, effective May 17, 2006, enact identical amendments to 58-23-5 NMSA 1978 that provide in Subsection D that the council is a state agency or instrumentality for the purposes of Article 8 of the constitution of New Mexico. Pursuant to 12-1-8 NMSA 1978, this section is set out as amended by Laws 2006, ch. 92, §2.

Applicability. — Laws 2006, ch. 92, § 4 makes the provisions of this act applicable to property tax years beginning on or after January 1, 2006.

Real property owned by the New Mexico hospital equipment loan council is not constitutionally exempt from taxation. — The New Mexico legislature may not grant tax exemptions from real property beyond those authorized by the New Mexico constitution, and therefore the New Mexico hospital equipment loan council, which is not a governmental entity listed in N.M. Const., Art. VIII, § 3, is not constitutionally exempt from taxation based on ownership of real property. 2025 Op. Att'y Gen. No. 25-13.