SENATE BILL 43

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Cynthia Nava

FOR THE LEGISLATIVE EDUCATION STUDY COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO THE COLLEGE AFFORDABILITY ENDOWMENT FUND.

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

     Section 1. APPROPRIATION.--Fifty million dollars ($50,000,000) is appropriated from the general fund to the college affordability endowment fund for expenditure in fiscal year 2007 and subsequent fiscal years to carry out the purposes of the fund. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

.159421.1