SENATE BILL 490

54th legislature - STATE OF NEW MEXICO - first session, 2019

INTRODUCED BY

Bill Tallman

AN ACT

MAKING AN APPROPRIATION TO CARRY OUT THE PROVISIONS OF THE INDIVIDUAL DEVELOPMENT ACCOUNT ACT.

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

     SECTION 1. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the workforce solutions department for expenditure in fiscal year 2020 to carry out the provisions of the Individual Development Account Act. Any unexpended or unencumbered balance remaining at the end of fiscal year 2020 shall revert to the general fund.

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