New Mexico § 75-1-5 - Emergency loans and grants
Full text of New Mexico New Mexico Statutes Annotated § 75-1-5 — Emergency loans and grants, with citation guidance and answers to common questions.
§ 75-1-5. Emergency loans and grants
Ten percent of the proceeds of each severance tax bond issuance or other appropriation
for the purpose of carrying out the provisions of the Rural Infrastructure Act shall
be reserved for emergencies and shall be allocated by the department only upon approval
of the state board of finance. This amount shall not be deposited in the fund and shall be allocated only for emergency
loans and grants. Emergency loans and grants shall be made in accordance with the applicable provisions
for loans pursuant to the Rural Infrastructure Act; provided that a grant shall not
exceed five hundred thousand dollars ($500,000). At the end of the third quarter of each fiscal year, the unexpended balance of the
reserved amount may be transferred by the department to the fund for use in accordance
with the Rural Infrastructure Act.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 75-1-5
What does New Mexico Statutes Annotated § 75-1-5 cover?
Section 75-1-5 ("Emergency loans and grants") 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 § 75-1-5?
A common citation format is "New Mexico Statutes Annotated § 75-1-5" (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 § 75-1-5 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.