SENATE BILL 1

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

INTRODUCED BY

Pete Campos

AN ACT

RELATING TO STATE EMERGENCY FUNDS; ALLOWING LOANS OR GRANTS TO INDIAN NATIONS, TRIBES OR PUEBLOS LOCATED IN NEW MEXICO.

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

     Section 1. Section 6-1-2 NMSA 1978 (being Laws 1959, Chapter 139, Section 1, as amended) is amended to read:

     "6-1-2. STATE BOARD OF FINANCE--LOANS AND GRANTS OF EMERGENCY FUNDS.--If the state board of finance determines that an emergency exists that warrants such action, it may lend or grant to any state agency, board, commission, municipal corporation or other political subdivision organized under the laws of the state or any Indian nation, tribe or pueblo that sum of money the board determines reasonable and appropriate from any funds appropriated to the board for use in meeting emergencies. As used in this section, "emergency" means an unforeseen occurrence or circumstance severely affecting the quality of government services and requiring the immediate expenditure of money that:

          A. is not within the available resources of the state agency, board, commission, municipal corporation or other political subdivision or the Indian nation, tribe or pueblo as determined by the state board of finance; and

          B. if subject to appropriation, cannot reasonably await appropriation by the next regular session of the legislature."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2005.

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