SENATE CAPITAL OUTLAY REQUEST 733

STATE OF NEW MEXICO

44TH LEGISLATURE - SECOND SESSION - 2000

REQUESTED BY

FOR REAUTHORIZING A SEVERANCE TAX BOND APPROPRIATION FOR RENOVATING AND

REPAIRING STATE BUILDINGS STATEWIDE.

On the effective date of this act, the balance of the unencumbered proceeds from the sale of severance tax bonds appropriated to the property control division pursuant to Subsection B of Section 7 of Chapter 4 of Laws 1996 (1st S.S.) to replace underground storage tanks and associated piping, clean up sites or install leak detection systems on tanks statewide shall not be expended for its original purpose but is appropriated to the division to renovate and repair state buildings statewide. The period of time in which this appropriation may be expended shall be extended through fiscal year 2002. Any unexpended or unencumbered balance remaining at the end of fiscal year 2002 shall revert to the severance tax bonding fund.

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