HOUSE BILL 1084

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Ben Lujan

AN ACT

RELATING TO WATER; MAKING AN APPROPRIATION TO THE INTERSTATE STREAM COMMISSION TO COMPLY WITH NEW MEXICO'S OBLIGATIONS UNDER THE PECOS RIVER COMPACT; PROVIDING CONTINGENCIES; PROVIDING FOR A REPORT.

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

     Section 1. APPROPRIATION--PECOS RIVER COMPACT OBLIGATIONS--CONTINGENCIES--REPORT.--

          A. Twelve million dollars ($12,000,000) is appropriated from the general fund to the interstate stream commission for expenditure in fiscal years 2005 through 2007 to comply with New Mexico's obligations under the Pecos River Compact; provided that the appropriation is contingent upon:

                (1) a determination by the secretary of finance and administration that local governments have appropriated, or otherwise committed, sixty million dollars ($60,000,000) for the same purpose; and

                (2) 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.

          B. 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 the appropriate interim legislative committee.

          C. Any unexpended or unencumbered balance remaining at the end of fiscal year 2007 shall revert to the general fund.

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