SENATE BILL 43

54th legislature - STATE OF NEW MEXICO - first session, 2019

INTRODUCED BY

Richard C. Martinez

ENDORSED BY THE NEW MEXICO FINANCE

AUTHORITY OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION FOR DRINKING WATER SYSTEM FINANCING.

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

     SECTION 1. APPROPRIATION.--Two million five hundred thousand dollars ($2,500,000) is appropriated from the public project revolving fund to the drinking water state revolving loan fund for expenditure in fiscal year 2020 and subsequent fiscal years to provide state matching funds for federal Safe Drinking Water Act of 1974 projects and to carry out the purposes of the Drinking Water State Revolving Loan Fund Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the public project revolving fund.

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2019.