New Mexico 2025 Regular Session

New Mexico House Bill HB46 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 46
29	29	57
30	30	TH LEGISLATURE
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33	33	STATE
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35	35	OF
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39	39	MEXICO
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42	42	FIRST SESSION
43	43	,
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45	45	2025
46	46	INTRODUCED BY
47	47	Eleanor Chávez
48	48	AN ACT
49	49	RELATING TO FINANCIAL INSTITUTIONS; AMENDING THE DEFINITION OF
50	50	"HEALTH-RELATED EQUIPMENT" BY REMOVING REAL PROPERTY;
51	51	CLARIFYING THE APPLICATION OF THE TAX EXEMPTION FOR REAL
52	52	PROPERTY FIRST PURCHASED, ACQUIRED, LEASED, FINANCED OR
53	53	REFINANCED PRIOR TO JULY 1, 2025 WITH THE PROCEEDS OF BONDS
54	54	ISSUED PURSUANT TO THE HOSPITAL EQUIPMENT LOAN ACT.
55	55	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
56	56	SECTION 1. Section 58-23-3 NMSA 1978 (being Laws 1983,
57	57	Chapter 290, Section 3, as amended) is amended to read:
58	58	"58-23-3. DEFINITIONS.--As used in the Hospital Equipment
59	59	Loan Act:
60	60	A. "board" means the board of directors of the
61	61	council;
62	62	B. "bonds" means bonds, notes, interim
63	63	.228835.3 underscored material = new
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90	90	certificates, bond anticipation notes or other evidences of
91	91	indebtedness of the council issued pursuant to the Hospital
92	92	Equipment Loan Act, including refunding bonds;
93	93	C. "cost" as applied to health-related equipment
94	94	means any and all costs of equipment, including but not limited
95	95	to the following:
96	96	(1) all direct or indirect costs of the
97	97	acquisition, including repair, restoration, reconditioning,
98	98	financing and refinancing or installation of the health-related
99	99	equipment;
100	100	(2) the cost of any property interest in the
101	101	health-related equipment, including an option to purchase or a
102	102	lease-hold interest;
103	103	(3) the cost of architectural, engineering,
104	104	planning, drafting, legal and any incidental or related
105	105	services necessary for acquisition of the health-related
106	106	equipment;
107	107	(4) the cost of all financing charges and
108	108	interest accrued prior to the acquisition or refinancing of the
109	109	health-related equipment for a maximum of two years after or
110	110	prior to such acquisition or refinancing;
111	111	(5) all direct and indirect costs incurred in
112	112	connection with the financing of the health-related equipment,
113	113	including out-of-pocket expenses; the cost of financing; legal,
114	114	accounting, financial, advisory and consulting expenses; the
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143	143	cost of [any] a policy of insurance; the cost of printing,
144	144	engraving and reproduction services; and costs associated with
145	145	[any] trust indenture; and
146	146	(6) [any] the costs incurred by the council
147	147	for the administration of [any ] a program for the purchase,
148	148	sale or lease of or the making of loans for health-related
149	149	equipment to [any] a participating health-care provider;
150	150	D. "council" means the New Mexico hospital
151	151	equipment loan council;
152	152	E. "health facility" means [any ] a person that:
153	153	(1) is licensed by the [department of ] health
154	154	care authority to provide health-related services, assisted
155	155	living support or long-term care;
156	156	(2) provides health-related research; or
157	157	(3) is properly accredited or certified and
158	158	eligible to receive medicare or medicaid reimbursement for all
159	159	or part of its activities [providing ] that provide mental
160	160	health services, developmental disabilities services or related
161	161	specialized support to or on behalf of persons or a defined
162	162	group of persons;
163	163	F. "health-related equipment" means [any real or ]
164	164	personal property, an instrument, a service or an operational
165	165	necessity that is found and determined by the council to be
166	166	needed, directly or indirectly, for medical care, treatment or
167	167	research or other equipment as [otherwise ] might be needed to
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196	196	operate the health facility;
197	197	G. "participating health facility" means a public
198	198	or private nonprofit or for-profit corporation, association,
199	199	foundation, trust, cooperative, agency or other person or
200	200	organization that operates or proposes to operate a health
201	201	facility in New Mexico and contracts with the council for the
202	202	financing or refinancing of the lease or acquisition of health-
203	203	related equipment. Public, district, county, city, county-
204	204	municipal or other municipal hospitals and hospitals affiliated
205	205	with an institution of higher education in New Mexico are
206	206	participating [health-care ] health care facilities; and
207	207	H. "program" means the New Mexico hospital
208	208	equipment loan program created by the Hospital Equipment Loan
209	209	Act and administered by the council."
210	210	SECTION 2. Section 58-23-29 NMSA 1978 (being Laws 1983,
211	211	Chapter 290, Section 29, as amended by Laws 2006, Chapter 90,
212	212	Section 3 and by Laws 2006, Chapter 92, Section 3) is amended
213	213	to read:
214	214	"58-23-29. EXEMPTION FROM TAXATION--ASSETS TO STATE UPON
215	215	DISSOLUTION.--
216	216	A. All property acquired or held by the council
217	217	under the Hospital Equipment Loan Act, income therefrom and
218	218	bonds issued under the Hospital Equipment Loan Act, plus the
219	219	interest payable and income derived from the bonds, shall be
220	220	exempt from taxation by the state or any subdivision thereof.
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249	249	Upon dissolution of the council, its assets, after payment of
250	250	its indebtedness, shall inure to the benefit of the state.
251	251	B. All health-related equipment purchased,
252	252	acquired, leased, financed or refinanced with the proceeds of
253	253	bonds issued under the Hospital Equipment Loan Act is exempt
254	254	from property taxation for as long as the participating health
255	255	facility remains liable for any amount under any lease, loan or
256	256	other agreement securing the bonds, but not to exceed thirty
257	257	years from the date the bonds were issued for the health-
258	258	related equipment. Real property that was first purchased,
259	259	acquired, leased, financed or refinanced prior to July 1, 2025
260	260	with the proceeds of bonds issued pursuant to the Hospital
261	261	Equipment Loan Act that is then purchased, acquired, leased,
262	262	financed or refinanced on or after July 1, 2025 shall no longer
263	263	be exempt from property taxation pursuant to this subsection. "
264	264	SECTION 3. EFFECTIVE DATE.--The effective date of the
265	265	provisions of this act is July 1, 2025.
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267	267	.228835.3