The Type 9 NTTC may be executed for the purchase of tangible personal property only.
It may not be used for the purchase of services, the purchase of a license or other intangible property, for the lease of property or to purchase the construction materials for use in construction projects (except as provided in #2 below).
The following may execute Type 9 NTTCs:
- Governmental agencies (7-9-54)
- 501(c)3 organizations (7-9-60). These organizations must register with the NM Taxation and Revenue Department and submit proof of Internal Revenue Service 501(C)3 nonprofit determination before they may execute Type 9 NTTCs. Those 501(C)3 organizations that are organized for the purpose of providing homeownership opportunities to the low-income families may purchase construction materials incorporated into these construction projects.
- Federal or state-chartered credit unions (7-9-61 and 7-9-21.2)
- Indian tribes, nations, or pueblos when purchasing tangible personal property for use on Indian reservations or pueblo grants (7-9-54)