1. 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.
2. B. Money in the fund is appropriated to the authority for the purpose of making loans to eligible entities for projects pursuant to the Behavioral Health Capital Funding Act.
3. C. The fund shall be administered by the authority. The authority may recover from the fund the actual costs of administering the fund and originating loans.

History: Laws 2004, ch. 71, § 4; 2019, ch. 156, § 2; 2023, ch. 129, § 2.

ANNOTATIONS

The 2023 amendment, effective June 16, 2023, changed the amount that the New Mexico finance authority may recover from the behavioral health capital fund from up to ten percent of original loan amounts to actual costs of administering the fund and originating loans; in Subsection B, after "eligible entities for", deleted "capital"; and in Subsection C, added "actual" preceding "costs", and after "originating loans", deleted "up to an amount equal to ten percent of original loan amounts".

The 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".