SENATE BILL 662

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

INTRODUCED BY

Ben D. Altamirano

AN ACT

RELATING TO THE STATE TREASURY; CREATING THE SALT BASIN WATER DEVELOPMENT FUND IN THE STATE TREASURY; MAKING AN APPROPRIATION.

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

     Section 1. SALT BASIN WATER DEVELOPMENT FUND.--The "salt basin water development fund" is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations, bequests and income from investment of the fund. Balances in the fund shall not revert to any other fund at the end of a fiscal year. The interstate stream commission shall administer the fund. Money in the fund is appropriated to the interstate stream commission to develop the water resources of the salt basin in southern New Mexico. Money in the fund shall be expended on warrants of the secretary of finance and administration pursuant to vouchers signed by the chair of the interstate stream commission or the chair's designee.

     Section 2. APPROPRIATION.--One hundred million dollars ($100,000,000) is appropriated from the general fund to the salt basin water development fund for expenditure in fiscal year 2007 and subsequent fiscal years to develop the water resources of the salt basin in southern New Mexico. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

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