HOUSE EXECUTIVE MESSAGE NO. 93
The Honorable Ben Lujan and
Members of the House of Representatives
Honorable Speaker and Members of the House:
I have this day VETOED and am
returning HOUSE BILL 379 enacted by the Forty-Fifth Legislature, First Session,
2001.
The bill, like Senate Bill 190, which I have already vetoed, proposes changing the statutory test for issuance of supplemental severance tax bonds. The effect of the change would be to increase supplemental bond capacity at the expense of the transfer to the severance tax permanent fund. This proposal would continue a trend of diverting money from the permanent fund to increase current spending. This trend must stop because the permanent fund is an important source of future year funding to the General Fund. In addition, the permanent fund corpus is already being eroded by the deterioration in stock values.
Sincerely,
Gary E. Johnson
Governor
RECEIVED FROM THE OFFICE OF THE
GOVERNOR:
Time: _____________________ By:_____________________________
Secretary of State
Date ______________________
Time:______________________
Date_______________________ By:_____________________________
Chief Clerk of the House
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