SENATE FINANCE COMMITTEE SUBSTITUTE FOR

SENATE BILL 905

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

AN ACT

RELATING TO STATE MUSEUMS; CREATING THE STATE MUSEUMS IMPROVEMENTS AND EXHIBITS FUND FOR SUPPORTING FACILITIES AND EXHIBITS AT NEW MEXICO MUSEUMS; MAKING AN APPROPRIATION.

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

     Section 1. STATE MUSEUMS IMPROVEMENTS AND EXHIBITS FUND CREATED--USE.--

          A. The "state museums improvements and exhibits fund" is created in the state treasury. The fund shall consist of:

                (1) money appropriated and transferred to the fund;

                (2) gifts, grants, donations and bequests; and

                (3) fifteen percent of the state museums' admission fees and facilities rentals.

          B. Earnings from investment of the state museums improvements and exhibits fund shall be credited to the fund. Money in the fund is appropriated to the cultural affairs department to be distributed to state museums pursuant to the provisions of this section. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert. Disbursements from the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of cultural affairs.

          C. Money in the state museums improvements and exhibits fund shall be expended by the cultural affairs department for development, implementation and maintenance of exhibitions at state museums and for maintenance and repairs of state museum facilities. Revenues in the fund earned by a specific division shall be expended by that division.

          D. As used in this section, "state museum" means a museum, state monument, cultural center or laboratory administered by the cultural affairs department.

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2006.

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