SENATE BILL 242

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Joseph J. Carraro

AN ACT

RELATING TO PUBLIC MASS TRANSIT FINANCING; ESTABLISHING AN EXPENDITURE CAP ON FUNDS USED BY THE DEPARTMENT OF TRANSPORTATION; DECLARING AN EMERGENCY.

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

     Section 1. Section 67-3-70 NMSA 1978 (being Laws 1975, Chapter 343, Section 4, as amended by Laws 2003, Chapter 68, Section 1 and by Laws 2003, Chapter 142, Section 68) is amended to read:

     "67-3-70. USE OF APPROPRIATED FUNDS.--The department may expend [such] a portion of its appropriated funds as it deems necessary to effectuate the purposes of the Public Mass Transportation Act; provided that an expenditure of funds that are not eligible for federal reimbursement shall not exceed fifty thousand dollars ($50,000) in any one fiscal year."

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

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