SB 489
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AN ACT
RELATING TO CAPITAL OUTLAY; PROVIDING FOR AN ALTERNATE FISCAL
AGENT; DECLARING AN EMERGENCY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 6-21-6.12 NMSA 1978 (being Laws 2007
(1st S.S.), Chapter 3, Section 2) is amended to read:
"6-21-6.12. LOCAL GOVERNMENT TRANSPORTATION FUND--
CREATED--DISTRIBUTIONS.--
A. The "local government transportation fund" is
created within the authority. The fund shall be administered
by the authority as a separate account, but may consist of
subaccounts if the authority deems them necessary to carry
out the purpose of the fund. The fund shall consist of
general fund appropriations and severance tax bond proceeds
appropriated to the fund and, except as provided in
Subsection E of this section, all earnings of the fund.
B. Except as provided in Subsection D of this
section, upon certification by the department of
transportation that a project has been approved for payment
and upon compliance with the requirements of this section,
money in the fund shall be distributed to local governments
for projects specifically authorized by the legislature. The
authority shall issue payment to the local government named
in the project application and certification or to the
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federal department of transportation, acting as the fiscal
agent for the local government.
C. Except as provided in Subsection D of this
section, distributions from the fund shall be made pursuant
to the following criteria:
(1) projects shall be funded in the order
that a completed application from a local government is
received if the application shows, to the satisfaction of the
department, that the project is ready to proceed and that the
local government has, or will timely have, the required match
for the distribution;
(2) distributions from the fund shall be
used to pay no more than the state's portion of the total
cost necessary to develop and construct the project as
presented in the approved application;
(3) to qualify for funding, a local
government shall apply for funding through the department of
transportation's regional or metropolitan planning
organizations;
(4) a local government shall show, to the
satisfaction of the department of transportation, that it
will match the distribution from the local government
transportation fund in the following amounts:
(a) for a project with a total cost of
less than five hundred thousand dollars ($500,000), the local
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government shall contribute ten percent of the total project
cost;
(b) for a project with a total cost of
five hundred thousand dollars ($500,000) or greater, but less
than or equal to one million dollars ($1,000,000), the local
government shall contribute twenty percent of the total
project cost;
(c) for a project with a total cost
greater than one million dollars ($1,000,000), but less than
or equal to six million dollars ($6,000,000), the local
government shall contribute thirty-five percent of the total
project cost; and
(d) for a project with a total project
cost greater than six million dollars ($6,000,000), the local
government shall contribute forty-five percent of the total
project cost; and
(5) in determining the sufficiency of a
local government's matching contribution, the department
shall consider actual funds, in-kind contributions,
preconstruction design and development costs and other
related expenditures made in the furtherance of the project.
Matching fund sources may be any money available to the local
government for the project, including:
(a) grants or loans by the authority
from the local transportation infrastructure fund;
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(b) appropriations from local
government road funds;
(c) community development block grants;
and
(d) available federal funds.
D. Notwithstanding the requirements of Subsections
B and C of this section, up to five hundred thousand dollars
($500,000) of the fund may be expended by the department of
transportation for engineering and design services to develop
the projects funded with distributions from the fund without
a requirement for a local match.
E. Earnings from investing the fund are subject to
appropriation by the legislature to the department of
transportation to be used for payment of administrative costs
associated with the fund, including payment for engineering
costs.
F. As used in this section:
(1) "fund" means the local government
transportation fund; and
(2) "local government" means a municipality
acting within its planning and platting jurisdiction, a
county or an Indian nation, tribe or pueblo."
Section 2. EMERGENCY.--It is necessary for the public
peace, health and safety that this act take effect
immediately.