New Mexico § 13-1B-5 - Revolving loan fund; loans made from the fund
Full text of New Mexico New Mexico Statutes Annotated § 13-1B-5 — Revolving loan fund; loans made from the fund, with citation guidance and answers to common questions.
§ 13-1B-5. Revolving loan fund; loans made from the fund
A. Money available in the fund may be loaned by the department to reimburse the expenses
incurred in acquiring vehicles of the agencies and departments of state government,
political subdivisions and educational institutions from gasoline to alternative fuel. B. A state agency or department, a political subdivision or an educational institution
to which a loan is made shall demonstrate the ability to pay back the loan within
seven years of the date that its vehicles are acquired. C. Use of the fund shall be limited to purchases of light duty, medium duty or heavy
duty vehicles that use natural gas, liquified petroleum gas, electricity or hydrogen. D. The maximum amount loaned to acquire a vehicle shall not exceed the actual incremental
cost of acquiring the vehicle or: (1) five thousand dollars ($5,000) for a light duty vehicle; (2) ten thousand dollars ($10,000) for a medium duty vehicle; or (3) twenty thousand dollars ($20,000) for a heavy duty vehicle.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 13-1B-5
What does New Mexico Statutes Annotated § 13-1B-5 cover?
Section 13-1B-5 ("Revolving loan fund; loans made from the fund") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 13-1B-5?
A common citation format is "New Mexico Statutes Annotated § 13-1B-5" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 13-1B-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.