N.M. Admin. Code § 2.70.4.8

Current through Register Vol. 36, No. 1, January 14, 2025

Section 2.70.4.8 - PROJECTS REQUIRING REVIEW

A. All projects that fall under the following categories must be submitted for review by the state board of finance:

(1) any purchase of real property;

(2) any construction of a new building;

(3) any project involving a bond issue which requires state board of finance approval;

(4) any other major project, including construction of facilities such as parking lots or radio towers; site improvements or landscaping; and remodeling of an existing building, but not demolition unless part of a larger project that requires approval.

B. In-house labor applied to a project must be included as part of the cost of the project. Projects may not be artificially segmented or phased in a manner designed to avoid review by the state board of finance.

N.M. Admin. Code § 2.70.4.8

2.70.4.8 NMAC - Rn, Directive 89-4, 2/1/07; A, 10/15/08, Adopted by New Mexico Register, Volume XXXV, Issue 24, December 23, 2024, eff. 12/23/2024