SENATE BILL 746

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Timothy Z. Jennings

AN ACT

RELATING TO NEW MEXICO MILITARY INSTITUTE; PROVIDING FOR THE TRANSFER OF CERTAIN BUDGET BALANCES TO THE LEGISLATIVE SCHOLARSHIP FUND; MAKING AN APPROPRIATION.

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

     Section 1. NEW MEXICO MILITARY INSTITUTE--TRANSFER OF BUDGET BALANCES.--With the approval of the commission on higher education, the board of regents of New Mexico military institute may, each fiscal year, transfer up to five hundred thousand dollars ($500,000) of the institute's budget balances to the legislative scholarship fund.

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