SENATE BILL 645

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

INTRODUCED BY

Ben D. Altamirano

AN ACT

MAKING AN APPROPRIATION TO THE FACULTY ENDOWMENT FUND.

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

     Section 1. APPROPRIATION--FACULTY ENDOWMENT FUND.--Twenty-five million dollars ($25,000,000) is appropriated from the general fund to the faculty endowment fund for expenditure in fiscal year 2008 and subsequent fiscal years pursuant to the provisions of Section 21-1-27.1 NMSA 1978. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert.

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