45th legislature - STATE OF NEW MEXICO - first session, 2001
RELATING TO PUBLIC MASS TRANSPORTATION; RAISING THE EXPENDITURE CAP ON FUNDS USED BY THE STATE HIGHWAY AND TRANSPORTATION DEPARTMENT; MAKING AN APPROPRIATION.
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) is amended to read:
"67-3-70. USE OF APPROPRIATED FUNDS.--The [state highway
and transportation] department may expend such portion of its
appropriated funds as it deems necessary to effectuate the
purposes of the Public Mass Transportation Act; provided that
such expenditure of funds which are not eligible for federal
reimbursement shall not exceed [fifty thousand dollars
($50,000)] three hundred thousand dollars ($300,000) in any
one fiscal year."
Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2001.