§ 22-18B-3. Definitions

As used in the Qualified School Bonds Act: A. “ allocation ” means New Mexico's allocation of the national zone academy bond limitation pursuant to Section 1397E(e)(2) of the Internal Revenue Code of 1986; B. “ council ” means the public school capital outlay council; C. “ eligible taxpayer ” means an entity that qualifies as an eligible taxpayer under Section 1397E(d)(6) of the Internal Revenue Code of 1986 and includes a bank, insurance company or corporation actively engaged in the business of lending money; D. “ qualified contribution ” means a contribution meeting the requirements of Section 1397E(d)(2) of the Internal Revenue Code of 1986 , from a private entity to the qualifying school and includes: (1) equipment for use in the qualifying school, including state-of-the-art technology and vocational equipment; (2) technical assistance in developing curriculum or in training teachers in order to promote appropriate market-driven technology in the classroom; (3) services of employees as volunteer mentors; (4) internships, field trips or other educational opportunities outside the qualifying school for students; and (5) any other property or service specified by the governing body of the qualifying school; E. “ qualified school bond ” means a bond issued by the state or a political subdivision of the state that meets all of the requirements of Section 4 of the Qualified School Bonds Act and the requirements for a qualified zone academy bond pursuant to Section 1397E(d)(1) of the Internal Revenue Code of 1986; F. “ qualified purpose ” means a purpose of a bond issue that meets the requirements of Section 1397E(d)(5) of the Internal Revenue Code of 1986 and Article 9, Section 11 of the constitution of New Mexico ; and G. “ qualifying school ” means a public school, a New Mexico state educational institution providing education or training below the post-secondary level or a program within such a public school or educational institution and which school, institution or program meets the requirements for a qualified zone academy pursuant to Section 1397E(d)(4) of the Internal Revenue Code of 1986 .