0001|                            HOUSE BILL 74
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                          RICHARD T. KNOWLES
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0005|     
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0006|                                   
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0007|     
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0008|                FOR THE LEGISLATIVE FINANCE COMMITTEE
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO PUBLIC MONEY; DEFINING EMERGENCY FOR THE PURPOSE OF
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0012|     EMERGENCY LOANS AND GRANTS MADE BY THE STATE BOARD OF FINANCE.
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|          Section 1.  Section 6-1-2 NMSA 1978 (being Laws 1959,
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0016|     Chapter 139, Section 1, as amended) is amended to read:
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0017|          "6-1-2.  STATE BOARD OF FINANCE--LOANS AND GRANTS OF
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0018|     EMERGENCY FUNDS.--If the state board of finance determines that
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0019|     an emergency exists that warrants such action, it may lend or
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0020|     grant to any state agency, board, commission, municipal
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0021|     corporation or other political subdivision organized under the
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0022|     laws of the state that sum of money the board determines
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0023|     reasonable and appropriate from any funds appropriated to the
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0024|     board for use in meeting emergencies.  <u>As used in this
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<u></u>0025| <u>    section, "emergency" means an unforeseen occurrence or
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<u></u>0001| <u>    circumstance severely affecting the quality of government
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<u></u>0002| <u>    services and requiring the immediate expenditure of money that:
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<u></u>0003| <u>              A.  is not within the available resources of the
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<u></u>0004| <u>    state agency, board, commission, municipal corporation or other
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<u></u>0005| <u>    political subdivision;
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<u></u>0006| <u>              B.  if subject to appropriation, could not have been
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<u></u>0007| <u>    reasonably foreseen and appropriated by the previous regular
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<u></u>0008| <u>    session of the legislature; and
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<u></u>0009| <u>              C.  if subject to appropriation, cannot reasonably
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<u></u>0010| <u>    await appropriation by the next regular session of the
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<u></u>0011| <u>    legislature</u>."
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0012|                                            
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0013|   
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0014|                      FORTY-THIRD LEGISLATURE
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0015|                        FIRST SESSION, 1997
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0016|   
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0017|   
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0018|                                                   March 4, 1997
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0019|   
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0020|   Mr. President:
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0021|   
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0022|       Your FINANCE COMMITTEE, to whom has been referred
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0023|   
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0024|                     HOUSE BILL 74, as amended
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0025|   
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0001|   has had it under consideration and reports same with
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0002|   recommendation that it DO PASS.
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0003|   
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0004|                                Respectfully submitted,
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0005|   
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0006|   
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0007|   
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0008|                                
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0009|   __________________________________
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0010|                                Ben D. Altamirano, Chairman 
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0011|   
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0012|   
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0013|   
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0014|   Adopted_______________________   Not
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0015|   Adopted_______________________
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0016|             (Chief Clerk)                          (Chief Clerk)
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0017|   
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0018|   
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0019|   
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0020|                     Date ________________________
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0021|   
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0022|   
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0023|   The roll call vote was <u> 6 </u> For <u> 0 </u> Against
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0024|           Yes:    6
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0025|           No:     None
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0001|                Excused:     Carraro, Ingle, Lyons, McKibben, Romero
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0002|           Absent: None
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0003|   
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0004|   
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0005|   H0074FC1
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