AN ACT
RELATING TO WATER; AMENDING LAWS 2002,
CHAPTER 109, SECTION 2 TO CHANGE THE YEARS OF APPROPRIATION FROM THE TAX
STABILIZATION RESERVE FOR WATER PROJECTS; CHANGING HOW AN APPROPRIATION MAY BE
EXPENDED; DECLARING AN EMERGENCY.
BE IT ENACTED BY THE LEGISLATURE OF
THE STATE OF NEW MEXICO:
Section 1. Laws 2002, Chapter 109, Section 2 is amended
to read:
"Section 2. APPROPRIATION--CONTINGENCY.--
A. Fifteen million dollars ($15,000,000) is
appropriated from the tax stabilization reserve to the department of finance
and administration for expenditure in fiscal years 2003 and 2004 for the
purpose of protecting, enhancing or conserving New Mexico's water resources;
provided that no less than ten million dollars ($10,000,000) shall be used to
comply with New Mexico's obligations under the Pecos River Compact.
B. Fifteen million dollars ($15,000,000) is
appropriated from the tax stabilization reserve to the department of finance
and administration for expenditure in fiscal year 2004 for the purpose of
protecting, enhancing or conserving New Mexico's water resources.
C. The department of finance and administration
shall transfer each appropriation to the interstate stream commission upon the
compliance with the requirements of this
subsection. The transfer and
expenditure of each appropriation is contingent upon:
(1) a declaration by the governor pursuant to
Section 6-4-2.2 NMSA 1978 that the expenditure is necessary for the public
peace, health and safety;
(2) a certification by the governor to the state
board of finance that, after the transfer, the sum of the remaining balances in
the appropriation contingency fund, the general fund operating reserve and the
tax stabilization reserve will not be less than five percent of the recurring
general fund appropriations for the prior fiscal year;
(3) a plan, prepared and adopted by the
interstate stream commission and describing the proposed expenditures, that is
approved by the state board of finance after review by the water trust board;
and
(4) an agreement by the state board of finance
that the expenditure is necessary for the public peace, health and safety.
D. The interstate stream commission shall make
periodic reports on expenditures made pursuant to this section to the water
trust board, the legislative finance committee and any other appropriate
interim legislative committee.
E. Expenditures for the purchase of land with
valid appurtenant water rights or rights to the delivery of water shall be made
only from willing sellers within the lower Pecos river basin downstream from
Sumner reservoir.
F. Any unexpended or unencumbered balance
remaining at the end of fiscal year 2004 shall revert to the tax stabilization
reserve."
Section 2. EMERGENCY.--It is necessary for the public
peace, health and safety that this act take effect immediately.
HB 2
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