As used in the University Research Park and Economic Development Act:

A. "bond" or "bonds" means any bond, note or other evidence of indebtedness;

B. "regents" means:

(1) in the case of an educational institution named in Article 12, Section 11 of the constitution of New Mexico, the board of regents of the institution;

(2) in the case of a community college, the community college board; or

(3) in the case of a technical and vocational institute, the governing board of the technical and vocational institute district;

C. "research park" means research and development facilities, research institutes, testing laboratories, buildings, offices, light manufacturing, utility facilities, health care facilities, related businesses, government installations and similar facilities, including land and projects for the development of real property; all necessary appurtenances; and rights and franchises acquired, constructed, managed and developed by a university or under its authority that are suitable or necessary to promote the social welfare of New Mexico through the advancement of education, science, research, conservation, health care, economic development and related purposes regardless of whether the activities conducted in those facilities are directly related to research;

D. "research park corporation" means any corporation formed pursuant to the provisions of the University Research Park and Economic Development Act;

E. "technological innovations" means research, development, prototype assembly, manufacture, patenting, licensing, marketing and sale of inventions, ideas, practices, applications, processes, machines, technology and related property rights of all kinds; and

F. "university" means:

(1) a New Mexico educational institution named in Article 12, Section 11 of the constitution of New Mexico;

(2) a community college organized pursuant to the Community College Act [Chapter 21, Article 13 NMSA 1978]; or

(3) a technical and vocational institute organized pursuant to the Technical and Vocational Institute Act [Chapter 21, Article 16 NMSA 1978].

History: Laws 1989, ch. 264, § 3; 1997, ch. 185, § 1; 1998, ch. 54, § 2; 2007, ch. 247, § 3.

The 2007 amendment, effective June 15, 2007, changed the title of the act, includes buildings and projects for the development of real property in the definition of "research park"; provided that activities conducted in research parks need not be directly related to research; and eliminated area vocational schools in the definition of "university".

The 1998 amendment, effective May 20, 1998, in Subsection C, inserted "utiltity facilities, health care facilities", substituted "including" for "together with", deleted "including" following "land", deleted "of the state", inserted "conservation, health care"; in Paragraph F(4), substituted "Chapter 21, Article 17 NMSA 1978" for "the Area Vocational School Act" and made minor stylistic changes.

The 1997 amendment, effective June 17, 1997, in Subsection B, deleted "the board of regents of a university" following "means" and added Paragraphs (1) through (4); and in Subsection F, added the Paragraph (1) designation, substituted "named in" for "established pursuant to the provisions of" in Paragraph (1), and added Paragraphs (2) through (4).