SENATE BILL 498

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

INTRODUCED BY

Gerald P. Ortiz y Pino

AN ACT

MAKING AN APPROPRIATION TO DEVELOP A CREDIT UNION FOR LOW-INCOME RESIDENTS OF NEW MEXICO.

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

     Section 1. APPROPRIATION.--Two hundred thousand dollars ($200,000) is appropriated from the general fund to the local government division of the department of finance and administration for expenditure in fiscal year 2006 to develop a credit union for low-income residents of New Mexico. Any unexpended or unencumbered balance remaining at the end of fiscal year 2006 shall revert to the general fund.

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