45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO THE STATE FISC; PROVIDING THAT THE APPROPRIATION CONTINGENCY FUND MAY BE EXPENDED IN CERTAIN CIRCUMSTANCES FOR MEDICAID PAYMENTS; MAKING AN APPROPRIATION.

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

Section 1. Section 6-4-2.3 NMSA 1978 (being Laws 1991, Chapter 10, Section 7) is amended to read:

"6-4-2.3. APPROPRIATION CONTINGENCY FUND.--There is created within the general fund the "appropriation contingency fund".

A. Except as provided in Subsection B of this section, the appropriation contingency fund may be expended only upon specific authorization by the legislature or as provided in Sections 6-7-1 through 6-7-3 NMSA 1978 in the event there is no surplus of unappropriated money in the general fund and in the amount authorized by the legislature.

B. [Notwithstanding Section 6-4-4 NMSA 1978, for the seventy-ninth fiscal year, if the revenues of the general fund exceed the total appropriations from the general fund, the excess revenue shall be transferred to the appropriation contingency fund.] In the event that amounts appropriated for medicaid payments in the general appropriation act fail to meet the total amount needed, pursuant to Sections 6-3-23 through 6-3-25 NMSA 1978, the human services department may request a budget increase from the appropriation contingency fund for the necessary amounts.

[C. Five million dollars ($5,000,000) is transferred from the operating reserve fund to the public school state-support reserve fund in the eightieth fiscal year.

D. If revenues and transfers to the general fund, excluding transfers to the operating reserve, appropriation contingency fund and public school state-support reserve, as of the end of the seventy-ninth fiscal year, are not sufficient to meet appropriations, the governor, with state board of finance approval, may transfer at the end of that year the amount necessary to meet the year's obligations from the unencumbered balance remaining in the general fund operating reserve in a total not to exceed sixty million dollars ($60,000,000).]"

Section 2. APPROPRIATION.--One hundred sixty-three million dollars ($163,000,000) is appropriated in fiscal year 2001 from the general fund to the appropriation contingency fund for the purpose of reserving revenue that may be needed for medicaid payments pursuant to Subsection B of Section 6-4-2.3 NMSA 1978. The appropriation shall not revert to the general fund.