SENATE BILL 67

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

INTRODUCED BY

William E. Sharer

AN ACT

MAKING AN APPROPRIATION TO THE OFFICE OF WORKFORCE TRAINING AND DEVELOPMENT TO IMPLEMENT THE INDIVIDUAL DEVELOPMENT ACCOUNT PROGRAM.

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

     Section 1. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the office of workforce training and development for expenditure in fiscal years 2007 through 2010 to implement the individual development account program. No more than two hundred fifty thousand dollars ($250,000) shall be expended in any single fiscal year. Any unexpended or unencumbered balance remaining at the end of fiscal year 2010 shall revert to the general fund.

.159756.1