New Mexico § 13-4A-4 - Allocation of construction costs

§ 13-4A-4. Allocation of construction costs

A. All agencies shall allocate as a nondeductible item an amount of money equal to

one percent or two hundred thousand dollars ($200,000), whichever is less, of the

amount of money appropriated for new construction or any major renovation exceeding

one hundred thousand dollars ($100,000), to be expended for the acquisition and installation

of works of art for the new building to be constructed or the building in which the

major renovation is to occur. B. An amount of money equal to one percent or two hundred thousand dollars ($200,000),

whichever is less, allocated from appropriations for new construction or major renovations

of excluded structures pursuant to Subsection E of Section 3 of the Art in Public

Places Act shall be accounted for separately and expended for acquisition and installation

of art for existing public buildings. The division shall determine the amount, not to exceed fifty thousand dollars ($50,000),

to be made available for the purchase of art in existing buildings in consultation

with the contracting agency. The selection process for art for existing buildings shall follow guidelines established

by the division pursuant to the Art in Public Places Act.