Section 21-31-1 – Short title.
This act [21-31-1 to 21-31-4 NMSA 1978] may be cited as the “Student Athlete Endorsement Act”. History: Laws 2021, ch. 124, § 1. ANNOTATIONS Effective dates. — Laws 2021, ch. 124 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 18, 2021, 90 days after adjournment of […]
Section 21-31-2 – Definitions.
As used in the Student Athlete Endorsement Act: A. “post-secondary educational institution” means an academic, vocational, technical, business, professional or other school, college or university or other organization or person offering or purporting to offer courses, instruction, training or education from a physical site in New Mexico, through distance education, correspondence or in person; B. […]
Section 21-31-3 – Student athlete compensation.
A. A post-secondary educational institution shall not: (1) uphold any rule, requirement, standard or other limitation that prevents a student athlete of that institution from fully participating in athletics without penalty: (a) for receiving food, shelter, medical expenses or insurance from a third party; or (b) for earning compensation from a third party as a […]
Section 21-31-4 – Professional representation.
A post-secondary educational institution shall not interfere with or prevent a student athlete from fully participating in athletics for obtaining representation unaffiliated with a post-secondary educational institution or its partners in relation to contracts or legal matters. An entity or individual that represents a post-secondary educational institution or has represented that post-secondary educational institution in […]
Section 21-30-1 – Short title.
Sections 2 through 11 [21-30-1 to 21-30-10 NMSA 1978] of this act may be cited as the “University Athletic Facility Funding Act”. History: Laws 2007, ch. 117, § 2. ANNOTATIONS Emergency clauses. — Laws 2007, ch. 117, § 12 contained an emergency clause and was approved March 30, 2007.
Section 21-30-2 – Definitions.
As used in the University Athletic Facility Funding Act: A. “athletic facility revenues” means rentals, receipts, fees or other charges imposed by and paid to a university for the rights to use, operate or manage a university athletic facility by any person; B. “athletic facility surcharge” means a surcharge to be included in each vendor […]
Section 21-30-3 – Issuance of bonds.
A. With the approval of the higher education department and the state board of finance, pursuant to a resolution of the board of regents, a university that has imposed an athletic facility surcharge may issue athletic facility revenue bonds to pay for some or all of the costs of designing, purchasing, constructing, remodeling, renovating, rehabilitating, […]
Section 21-30-4 – Athletic facility revenue bonds; full authority to issue; bonds are legal investments.
A. The University Athletic Facility Bonding Act shall, without reference to any other act of the legislature, be full authority for the issuance and sale of athletic facility revenue bonds, which bonds shall have all the qualities of investment securities under the Uniform Commercial Code [Chapter 55 NMSA 1978] and shall not be invalid for […]
Section 21-30-5 – Bonds tax exempt.
All athletic facility revenue bonds shall be exempt from taxation by the state or any of its political subdivisions. History: Laws 2007, ch. 117, § 6. ANNOTATIONS Emergency clauses. — Laws 2007, ch. 117, § 12 contained an emergency clause and was approved March 30, 2007.
Section 21-30-6 – Authorization of surcharge and other fees; use of proceeds; transfer.
A. The board may establish by resolution an athletic facility surcharge of not less than five percent but not to exceed twenty-five percent of the revenues received by a vendor pursuant to each vendor contract entered into by the university. B. The athletic facility surcharge shall be imposed only for the period necessary for payment […]