Partnertax.ai
Start free trial →

NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-27-5

Investment of severance tax permanent fund

Official textnmonesource.comlast amended

# 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.

Amendment history

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 source (NMSA chapter on nmonesource.com)

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this article (40 sections)
  1. 7-27-1 · Short title
  2. 7-27-2 · Severance tax bonding fund created
  3. 7-27-3 · Severance tax permanent fund created
  4. 7-27-3.1 · Transfer of investment powers
  5. 7-27-3.2 · Definition
  6. 7-27-3.3 · Severance tax permanent fund; annual distributions
  7. 7-27-4 · Repealed
  8. 7-27-5 · Investment of severance tax permanent fund
  9. 7-27-5.1 · Repealed
  10. 7-27-5.2 · Repealed
  11. 7-27-5.3 · Conventional mortgage pass-through securities
  12. 7-27-5.4 · New Mexico business investments
  13. 7-27-5.5 · Educational loan notes
  14. 7-27-5.6 · Repealed
  15. 7-27-5.7 · Repealed
  16. 7-27-5.8 · Repealed
  17. 7-27-5.9 · Repealed
  18. 7-27-5.10 · Repealed
  19. 7-27-5.11 · Repealed
  20. 7-27-5.12 · Repealed
  21. 7-27-5.13 · 7-27-5.13
  22. 7-27-5.14 · Findings and purpose
  23. 7-27-5.15 · 7-27-5.15
  24. 7-27-5.16 · Repealed
  25. 7-27-5.17 · Employers mutual company revenue bonds
  26. 7-27-5.18 · Purpose
  27. 7-27-5.19 · Deposits in New Mexico financial institutions; limitations
  28. 7-27-5.20 · Deposits in New Mexico credit unions
  29. 7-27-5.21 · New Mexico lottery revenue bonds
  30. 7-27-5.22 · 7-27-5.22
  31. 7-27-5.23 · Repealed
  32. 7-27-5.24 · 7-27-5.24
  33. 7-27-5.25 · Repealed
  34. 7-27-5.26 · Investment in films to be produced in New Mexico
  35. 7-27-5.27 · Local government emergency economic relief
  36. 7-27-6 · Severance tax bonding fund pledged
  37. 7-27-7 · Special income to retire bonds
  38. 7-27-8 · Transfer of money to severance tax permanent fund
  39. 7-27-9 · 7-27-9
  40. 7-27-10 · State board of finance shall issue bonds
Full table of contents →