SENATE BILL 168

51st legislature - STATE OF NEW MEXICO - second session, 2014

INTRODUCED BY

Pete Campos

AN ACT

MAKING AN APPROPRIATION FOR LEGAL AND ECONOMIC ANALYSES OF RAILROAD SERVICE IN NEW MEXICO; DECLARING AN EMERGENCY.

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

     SECTION 1. APPROPRIATION.--

          A. One hundred fifty thousand dollars ($150,000) is appropriated from the general fund for expenditure in fiscal years 2014 and 2015 as follows:

                (1) one hundred thirty thousand dollars ($130,000) to the board of regents of the university of New Mexico for the bureau of business and economic research to develop a cost and benefit economic analysis of the state's investment required to keep the southwest chief train service; and

                (2) twenty thousand dollars ($20,000) to the legislative council service for an independent legal analysis of the statutory requirements needed to implement the investment described in Paragraph (1) of this subsection.

          B. The analyses funded in Subsection A of this section shall be presented to the appropriate legislative interim committees by October 1, 2014.

          C. Any unexpended or unencumbered balance remaining at the end of fiscal year 2015 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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