HOUSE BILL 17

48th legislature - STATE OF NEW MEXICO - second special session, 2008

INTRODUCED BY

Nick L. Salazar

AN ACT

MAKING AN APPROPRIATION TO ADMINISTER TAX CREDITS ADOPTED IN THE SECOND SPECIAL SESSION OF THE FORTY-EIGHTH LEGISLATURE; DECLARING AN EMERGENCY.

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

     Section 1. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the taxation and revenue department for expenditure in fiscal year 2009 to administer the tax credits adopted in the second special session of the forty-eighth legislature. Any unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall revert to the general fund.

     Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

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