SENATE BILL 187

52nd legislature - STATE OF NEW MEXICO - second session, 2016

INTRODUCED BY

Pete Campos

AN ACT

MAKING AN APPROPRIATION FOR LOCAL ECONOMIC DEVELOPMENT ACT PROJECTS.

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

     SECTION 1. APPROPRIATION.--Fifty million dollars ($50,000,000) is appropriated from the general fund to the economic development department for expenditure in fiscal year 2017 and subsequent fiscal years for projects pursuant to the provisions of the Local Economic Development Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

.203161.1