SENATE BILL 552

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Joseph Cervantes

ENDORSED BY THE

NEW MEXICO FINANCE AUTHORITY OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION FOR DRINKING WATER SYSTEM FINANCING.

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

     SECTION 1. APPROPRIATION.--One million eight hundred thousand dollars ($1,800,000) is appropriated from the public project revolving fund to the drinking water state revolving loan fund for expenditure in fiscal year 2016 and subsequent fiscal years to provide state matching funds for federal Safe Drinking Water Act projects and to carry out the purposes of the Drinking Water State Revolving Loan Fund Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the public project revolving fund.

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2015.