HOUSE BILL 709

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Justine Fox-Young

AN ACT

MAKING AN APPROPRIATION FROM A CERTAIN SETTLEMENT FUND TO THE PUBLIC SCHOOL CAPITAL OUTLAY FUND.

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

     Section 1. APPROPRIATION--PUBLIC SCHOOL CAPITAL OUTLAY FUND.--Two million six hundred thousand dollars ($2,600,000) is appropriated for each fiscal year from fiscal year 2007 through fiscal year 2009 from the fund, established pursuant to Section 3 of the Terms and Conditions of the Amended Settlement Agreement entered into between Qwest corporation and the state on December 15, 2006, to the public school capital outlay fund for expenditure in fiscal year 2007 and subsequent fiscal years for the purpose of carrying out the provisions of the Public School Capital Outlay Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to any other fund.

- 2 -