SENATE BILL 121

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Ben D. Altamirano

AN ACT

MAKING AN APPROPRIATION TO THE COMMISSION ON HIGHER EDUCATION FOR THE FACULTY ENDOWMENT FUND.

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

     Section 1. APPROPRIATION.--Twelve million dollars ($12,000,000) is appropriated from the general fund to the commission on higher education for deposit in the faculty endowment fund for expenditure in fiscal year 2005 and subsequent fiscal years to be disbursed as authorized under Section 21-1-27.1 NMSA 1978. Money in the fund at the end of a fiscal year shall not revert to the general fund.

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