44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

RELATING TO THE STATE BUDGET; REMOVING THE TEN-DAY WAITING PERIOD FOR A BUDGET ADJUSTMENT REQUEST TO INCREASE FUNDS FOR AN EMERGENCY OR DISASTER EVENT; AMENDING A SECTION OF THE NMSA 1978.

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

Section 1. Section 6-3-25 NMSA 1978 (being Laws 1992, Chapter 2, Section 3) is amended to read:

"6-3-25. BUDGET ADJUSTMENT PROCEDURE.--

A. Except for federal funds or a budget adjustment request to increase funds for an emergency or disaster event that is approved by the governor by an executive order and by the director of the state budget division of the department of finance and administration, any budget adjustment request to transfer, decrease or increase funds shall be held in abeyance for ten calendar days after the director [of the state budget division of the department of finance and administration] has approved the request and has filed the request with the director of the legislative finance committee or his designee. The request shall be accompanied by a statement, in writing, of the conditions under which the budget adjustment request is approved, together with justification for approval.

B. If within ten days the director of the legislative finance committee or his designee objects to the request, the request shall not go into effect until it is reviewed by the legislative finance committee at a public hearing held within thirty-five calendar days of receipt of the proposed budget adjustment by the director of the legislative finance committee or his designee. If the state fiscal year ends prior to the date scheduled for a hearing, the request shall go into effect on the last day of the fiscal year.

C. If within ten days of receipt of a budget adjustment request the director of the legislative finance committee or his designee indicates that no objection will be forthcoming, the proposed budget adjustment request may be implemented immediately. If no public hearing is held within the required thirty-five days, the request may be implemented.

D. As used in this section, "emergency or disaster event" means an event that:

(1) threatens loss of life;

(2) threatens loss of property; or

(3) warrants the protection of the state's critical infrastructure."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 1999.