SENATE BILL 6

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

INTRODUCED BY

Timothy M. Keller

AN ACT

RELATING TO THE FISCAL YEAR 2010 BUDGET; PROVIDING FOR CONDITIONAL RESTORATION OF APPROPRIATIONS REDUCED IN THE SPECIAL SESSION.

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

     Section 1. FISCAL SOLVENCY--RESTORATION OF FISCAL YEAR 2010 APPROPRIATIONS AS STATE REVENUES IMPROVE.--During fiscal year 2010, if the state's consensus revenue estimating group, consisting of economists from the department of finance and administration, the taxation and revenue department, the department of transportation and the legislative finance committee, report at the December revenue estimate and the January revenue estimate review that the state's general fund revenue for fiscal year 2010 has increased by at least five percent over the October revenue estimate, the general fund appropriations to agencies, institutions and public schools funded in the General Appropriation Act of 2009 that were reduced in laws enacted by the forty-ninth legislature, first special session, shall be restored proportionately to the amount of the revenue increase indicated by the revenue estimate or review.

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