HOUSE BILL 204

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Edward C. Sandoval

AN ACT

RELATING TO HORSE RACING; EXTENDING THE LIFE OF THE STATE RACING COMMISSION AND THE HORSE RACING ACT UNTIL 2015 TO ALLOW FOR BONDS ISSUED BY THE NEW MEXICO STATE FAIR TO BE REPAID TO PREVENT INTERRUPTION OF THE REVENUE STREAM DEDICATED TO THE REPAYMENT OF THE BONDS.

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

     Section 1. Section 60-1A-29 NMSA 1978 (being Laws 2007, Chapter 39, Section 29) is amended to read:

     "60-1A-29. TERMINATION OF AGENCY LIFE--DELAYED REPEAL.--The state racing commission is terminated on July 1, [2011] 2015 pursuant to the Sunset Act. The commission shall continue to operate according to the provisions of Chapter 60, Article 1A NMSA 1978 until July 1, [2012] 2016. Effective July 1, [2012] 2016, Chapter 60, Article 1A NMSA 1978 is repealed."