45th legislature - STATE OF NEW MEXICO - second session, 2002

MAKING AN APPROPRIATION FOR A SEVEN PERCENT SALARY INCREASE FOR FACULTY AND STAFF AT POST-SECONDARY EDUCATIONAL INSTITUTIONS.

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

Section 1. APPROPRIATION.--Thirty-eight million six hundred thousand dollars ($38,600,000) is appropriated from the general fund to the commission on higher education for expenditure in fiscal year 2003 to provide faculty and other staff of four- and two-year post-secondary educational institutions with a seven percent salary increase. Any unexpended or unencumbered balance remaining at the end of fiscal year 2003 shall revert to the general fund.

.140373.1