The Council was created in 1983 under the New Mexico Hospital Equipment Loan Act. Its purpose is to:
Provide the healthcare industry with access to low-cost capital through the issuance of tax-exempt and taxable bonds, loans and leases.
The Council is an independent instrumentality of the State of New Mexico governed by a five-member Board. The Board is composed of two health facility officers, two financial institution officers, and one at-large member.
Eligible health facilities include any entity or person that:
- is licensed by the New Mexico Department of Health to provide health-related services, assisted living support or long term care;
- provides health-related research; or
- is properly accredited or certified and eligible to receive Medicare or Medicaid reimbursement for all or part of its activities providing mental health services, developmental disabilities services, or related specialized support to, or on behalf of, a defined group of persons.