46th legislature - STATE OF NEW MEXICO - first session, 2003

MAKING AN APPROPRIATION FOR A ONE-TIME, SUPPLEMENTAL SALARY INCREASE FOR PUBLIC SCHOOL EMPLOYEES; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. APPROPRIATION.--Fourteen million dollars ($14,000,000) is appropriated from the general fund to the state department of public education for expenditure in fiscal year 2003 to provide a two percent one-time, supplemental salary increase to all public school employees calculated on the amount paid on one-half of the salary for the 2002-2003 contract year or school year as applicable, payable in one or more lump-sum payments in the pay periods between the effective date of this act and the end of the school year. The one-time, supplemental salary increase shall not be considered salary for the purposes of the Educational Retirement Act. Any unexpended or unencumbered balance remaining at the end of fiscal year 2003 shall revert to the general fund.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.