SENATE BILL 548

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

INTRODUCED BY

Roman M. Maes III







AN ACT

RELATING TO PUBLIC FINANCE; PROVIDING FOR THE TRANSFER OF PUBLIC MONEY FROM A FUND ESTABLISHED BY LAW TO THE GENERAL FUND OR ANY OTHER FUND DESIGNATED BY THE LEGISLATURE; DECLARING AN EMERGENCY.



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

Section 1. TRANSFER OF PUBLIC MONEY.--

A. Notwithstanding any provision of law to the contrary, upon legislative authorization the department of finance and administration may transfer public money deposited in a fund established by law to the general fund or any other fund designated by the legislature.

B. The provisions of this section shall not be interpreted to apply to public money that is deposited in a fund established or regulated by the constitution of New Mexico.

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

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