HOUSE BILL 24

53rd legislature - STATE OF NEW MEXICO - first session, 2017

INTRODUCED BY

Candy Spence Ezzell and Bill McCamley

ENDORSED BY THE WATER AND NATURAL RESOURCES COMMITTEE

AN ACT

RELATING TO PUBLIC LANDS; CREATING THE STATE TRUST LANDS RESTORATION AND REMEDIATION FUND; MAKING AN APPROPRIATION.

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

     SECTION 1. Section 19-1-11 NMSA 1978 (being Laws 1912, Chapter 82, Section 6, as amended) is amended to read:

     "19-1-11. STATE LANDS MAINTENANCE FUND--CREATED--STATE LANDS INCOME--DISPOSITION--STATE TRUST LANDS RESTORATION AND REMEDIATION FUND CREATED.--

          [The] A. Ninety-nine percent of the income derived from any state lands granted or confirmed by the Enabling Act or otherwise under the management, care, custody and control of the commissioner of public lands shall constitute a fund to be known as the "state lands maintenance fund"; provided that the state lands maintenance fund shall not include any money required to be transferred to any permanent fund created in Chapter 19 NMSA 1978.

          B. The "state trust lands restoration and remediation fund" is created in the state treasury. One percent of the income derived from any state trust lands granted or confirmed by the Enabling Act or otherwise under the management, care, custody and control of the commissioner of public lands shall be deposited in the state trust lands restoration and remediation fund; provided that the state trust lands restoration and remediation fund shall not include any money required to be transferred to any permanent fund created in Chapter 19 NMSA 1978. The state trust lands restoration and remediation fund also consists of income from investment of the fund and money otherwise accruing to the fund. Money in the state trust lands restoration and remediation fund that exceeds five million dollars ($5,000,000) shall be distributed to the trust beneficiaries in the same manner that surpluses in the state lands maintenance fund are distributed. Money in the fund shall not revert to any other fund at the end of a fiscal year. The state land office shall administer the fund. Subject to legislative appropriation, expenditures may be made from the state trust lands restoration and remediation fund upon vouchers signed by the commissioner or the commissioner's authorized representative and issued by the secretary of finance and administration to administer contractual surface damage and watershed restoration and remediation projects on state trust lands."

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