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

RELATING TO LIBRARIES; CREATING A TRIBAL LIBRARIES ENDOWMENT FUND; MAKING AN APPROPRIATION.

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

Section 1. A new section of Chapter 18, Article 2 NMSA 1978 is enacted to read:

"[NEW MATERIAL] FUND CREATED--ADMINISTRATION--PURPOSE.--

A. The "tribal libraries endowment fund" is created in the state treasury. The fund shall consist of all money appropriated to the fund and any grants, gifts and bequests made to the fund. Any money in the fund shall not revert to the general fund at the end of any fiscal year.

B. The library division of the office of cultural affairs shall administer the tribal libraries endowment fund and shall make disbursements from the earnings on the investment of the fund for the purpose of funding the establishment, development and administration of tribal libraries in New Mexico.

C. The library division of the office of cultural affairs may adopt rules and procedures as necessary or appropriate to administer the tribal libraries endowment fund after consultation with the tribal libraries."

Section 2. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the tribal libraries endowment fund for expenditure in fiscal year 2002 and subsequent fiscal years by the library division of the office of cultural affairs for the purpose of funding the establishment, development and administration of tribal libraries in New Mexico. Any unexpended or unencumbered balance remaining at the end of any fiscal year shall not revert to the general fund.