FORTY-EIGHTH LEGISLATURE

FIRST SPECIAL SESSION

March 29, 2007

SENATE FLOOR AMENDMENT number ___2___ to HOUSE BILL 2

Amendment sponsored by Senator

    1. On page 1, line 13, after the first semicolon insert "APPROPRIATING THE INTEREST EARNED ON CERTAIN BOND PROCEEDS FOR A CERTAIN PROJECT;".

    2. On page 30, between lines 1 and 2, insert the following new section:

    "Section 4. INTEREST EARNED ON STATE TRANSPORTATION PROJECT BONDS--APPROPRIATION.--Twenty-four million one hundred thousand dollars ($24,100,000) of interest earned on the proceeds of state transportation project bonds issued pursuant to Sections 67-3-59.3 and 67-3-59.4 NMSA 1978 is appropriated to the department of transportation for expenditure in fiscal years 2007 through 2009 for the reconstruction and preservation of the existing two lanes on highway 491. Any unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall not revert but shall be used by the department of transportation for debt service on the state transportation project bonds.".

    3. Renumber the succeeding section accordingly.

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Adopted ___________________ Not Adopted _______________________

          (Chief Clerk)                (Chief Clerk)

                  Date _________________