HOUSE BILL 412

51st legislature - STATE OF NEW MEXICO - first session, 2013

INTRODUCED BY

Jim R. Trujillo

AN ACT

TRANSFERRING FUNDS FROM THE GENERAL FUND OPERATING RESERVE TO THE TOBACCO SETTLEMENT PERMANENT FUND.

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

     SECTION 1. TEMPORARY PROVISION--TRANSFER OF FUNDS.--On the effective date of this act, one hundred fifty million dollars ($150,000,000) is transferred from the general fund operating reserve to the tobacco settlement permanent fund. This transfer represents a restoration of funds diverted from the tobacco settlement permanent fund to meet state fiscal solvency requirements.

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