us-nm/stat

NMSA 1978, § 7-27-5 — Investment of severance tax permanent fund

A.

The severance tax permanent fund shall be invested in separate differential rate
and market rate investment classes. "Differential rate investments" are permitted in
Sections 7-27-5.3 through 7-27-5.5, 7-27-5.13 through 7-27-5.17, 7-27-5.22, 7-27-5.24
and 7-27-5.26 NMSA 1978 and are intended to stimulate the economy of New Mexico
and to provide income to the severance tax permanent fund. "Market rate investments"
are investments that are not differential rate investments and are intended to provide
income to the severance tax permanent fund. All market rate investments and
differential rate investments shall be invested in accordance with the Uniform Prudent
Investor Act [45-7-601 to 45-7-612 NMSA 1978] and shall be accounted for in
accordance with generally accepted accounting principles.

B.

In addition to the investment classes described in Subsection A of this section,
the severance tax permanent fund shall be invested in loans to provide emergency
economic relief to local governments as provided by Section 8 [7-27-5.27 NMSA 1978]
of this 2020 act.

Last amended: 1978 Comp., § 7-27-5, enacted by Laws 1983, ch. 306, § 7; 1987, ch. 219, § 1; 1988, ch. 133, § 2; 1988, ch. 134, § 6; 1989, ch. 265, § 2; 1990, ch. 126, § 2; 1990, ch. 127, § 9; 1990 (2nd S.S.), ch. 3, § 1; 1991, ch. 83, § 2; 1995, ch. 215, § 1; 1997, ch. 178, § 2; 2000, ch. 5, § 3; 2000 (2nd S.S.), ch. 6, § 1; 2005, ch. 240, § 3; 2020 (1st S.S.), ch. 6, § 9.

Source: official text

NMSA 1978, § 7-27-5 — Investment of severance tax permanent fund

# A.

# B.

A.

B.