The severance tax permanent fund may be invested in revenue bonds issued by the New Mexico lottery authority pursuant to the provisions of the New Mexico Lottery Act [Chapter 6, Article 24 NMSA 1978]. The amount invested shall not exceed three million dollars ($3,000,000).
§ 7-27-5.21 NMSA 1978
New Mexico lottery revenue bonds
Known as the Severance Tax Bonding Act
The act spans §§ 7–7 (92 sections).
Laws 1995, ch. 155, § 36.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.