SENATE JOINT RESOLUTION 7

44th legislature - STATE OF NEW MEXICO - second session, 2000

INTRODUCED BY

Joseph J. Carraro

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO THE CONSTITUTION OF NEW MEXICO TO USE FIVE HUNDRED MILLION DOLLARS ($500,000,000) OF THE SEVERANCE TAX PERMANENT FUND FOR THE CONSTRUCTION, IMPROVEMENT AND REPAIR OF PUBLIC HIGHWAYS.

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

Section 1. It is proposed to amend Article 8 of the constitution of New Mexico by adding a new section to read:

"On July 1, 2001, five hundred million dollars ($500,000,000) shall be transferred from the severance tax permanent fund to a special fund, to be appropriated by the legislature exclusively for the construction, improvement and repair of public highways."

Section 2. The amendment proposed by this resolution shall be submitted to the people for their approval or rejection at the next general election or at any special election prior to that date which may be called for that purpose.

- 2 -