HOUSE BILL 33

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

INTRODUCED BY

Rick Miera

AN ACT

RELATING TO FLEXIBILITY FOR PUBLIC SCHOOLS; MAKING AN APPROPRIATION FROM THE PUBLIC SCHOOL CAPITAL OUTLAY FUND TO PAY FOR PROPERTY INSURANCE ON BEHALF OF SCHOOL DISTRICTS AND CHARTER SCHOOLS DURING FISCAL YEAR 2010; DECLARING AN EMERGENCY.

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

     Section 1. APPROPRIATION--PUBLIC SCHOOL CAPITAL OUTLAY FUND FOR INSURANCE COVERAGE.--Notwithstanding the provisions of the Public School Capital Outlay Act, twenty-nine million dollars ($29,000,000) is appropriated from the public school capital outlay fund to the public school insurance authority for expenditure in fiscal year 2010 for the purpose of reimbursing or paying property insurance premiums on behalf of school districts and charter schools. Of the appropriation, the amount necessary to reimburse or pay up to seven million dollars ($7,000,000) for property insurance coverage in fiscal year 2010 for the Albuquerque public school district shall be distributed by the public school insurance authority to the Albuquerque public school district. Any unexpended or unencumbered balance remaining at the end of fiscal year 2010 shall revert to the public school capital outlay fund.

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

- 2 -