0001| HOUSE BILL 708
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0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003| 1996
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0004| INTRODUCED BY
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0005| LUCIANO "LUCKY" VARELA
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0006|
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0007|
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0008| FOR THE LEGISLATIVE FINANCE COMMITTEE AND THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE
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0009|
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0010| AN ACT
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0011| RELATING TO STATE FUNDS; CLARIFYING AND CHANGING PROVISIONS
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0012| GOVERNING CASH FLOW; AMENDING, REPEALING AND ENACTING SECTIONS
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0013| OF THE NMSA 1978; DECLARING AN EMERGENCY.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. Section 6-4-6 NMSA 1978 (being Laws 1991,
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0017| Chapter 132, Section 1) is repealed and a new Section 6-4-6 NMSA
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0018| 1978 is enacted to read:
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0019| "6-4-6. [NEW MATERIAL] USE OF FUNDS AUTHORIZED TO
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0020| MAINTAIN CASH FLOW.--
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0021| A. Unless prohibited by Subsection B or C of this
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0022| section, for cash flow purposes the cash balance in any fund or
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0023| account in the state treasury, regardless of the specific
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0024| allocation or appropriation to the fund or account, may be used:
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0025| (1) to support periodic allotments to state
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0001| agencies pursuant to Section 6-3-6 NMSA 1978 in order to meet
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0002| expenditures contained in an operating budget approved pursuant
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0003| to Section 6-3-7 NMSA 1978;
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0004| (2) to support allotments made to institutions
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0005| of post-secondary educational or vocational institutions;
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0006| (3) to support allotments made for public
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0007| school support; or
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0008| (4) to support expenditures from agency
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0009| accounts if the expenditures are for personal services and
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0010| contained in an operating budget approved pursuant to Section
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0011| 6-3-7 NMSA 1978.
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0012| B. No cash balance may be transferred or used to
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0013| support periodic allotments unless the secretary of finance and
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0014| administration or his designee reasonably expects that the
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0015| balance in the fund or account will be fully restored by the end
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0016| of the fiscal year.
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0017| C. No cash balance from the following funds or
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0018| accounts shall be used for cash flow purposes to support
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0019| periodic allotments to state agencies, unless there is a
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0020| specific authorization for such use in a current law other than
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0021| this section:
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0022| (1) a permanent fund;
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0023| (2) any debt service fund or account
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0024| established for the payment of principal and interest on any
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0025| indebtedness of the state;
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0001| (3) federal funds deposited for payment for a
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0002| specific program;
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0003| (4) a retirement or pension fund; or
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0004| (5) any other fund if the use of the fund would
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0005| violate a constitutional or trust provision."
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0006| Section 2. Section 8-6-7 NMSA 1978 (being Laws 1987,
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0007| Chapter 183, Section 1, as amended) is amended to read:
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0008| "8-6-7. WRONGFUL DRAWING OR PAYMENT OF WARRANT BY
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0009| SECRETARY OR TREASURER--PENALTY.--
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0010| A. If the secretary of finance and administration
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0011| draws any warrant on the state treasurer when he knows or, with
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0012| the use of available accounting information, should reasonably
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0013| know there is an insufficient [unexpended and unencumbered]
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0014| cash balance available for the purpose for which the warrant
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0015| is drawn, he [shall be] is in violation of this section,
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0016| unless the warrant includes federal funds that will be
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0017| receipted based upon established warrant-clearing patterns.
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0018| B. If the state treasurer pays any warrant when he
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0019| knows or, with the use of available accounting information,
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0020| should reasonably know there are insufficient funds available in
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0021| the treasury for the purpose to pay the warrant, he [shall be]
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0022| is in violation of this section unless the warrant includes
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0023| federal funds that will be receipted based upon established
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0024| warrant-clearing patterns.
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0025| C. A violation of this section [shall be] is
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0001| punishable by a fine of not more than one thousand dollars
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0002| ($1,000) or by imprisonment for not more than one year or by
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0003| both such fine and imprisonment in the discretion of the judge."
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0004| Section 3. REPEAL.--Section 6-10-42 NMSA 1978 (being Laws
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0005| 1923, Chapter 76, Section 25, as amended) is repealed.
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0006| Section 4. EMERGENCY.--It is necessary for the public
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0007| peace, health and safety that this act take effect immediately.
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0008| - 4 - State of New Mexico
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0009| House of Representatives
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0010|
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0011| FORTY-SECOND LEGISLATURE
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0012| SECOND SESSION, 1996
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0013|
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0014|
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0015| February 9, 1996
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0016|
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0017|
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0018| Mr. Speaker:
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0019|
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0020| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0021| been referred
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0022|
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0023| HOUSE BILL 708
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0024|
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0025| has had it under consideration and reports same with
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0001| recommendation that it DO PASS.
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0002|
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0003| Respectfully submitted,
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0004|
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0005|
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0006|
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0007|
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0008| Jerry W. Sandel, Chairman
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0009|
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0010|
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0011| Adopted Not Adopted
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0012|
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0013| (Chief Clerk) (Chief Clerk)
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0014|
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0015| Date
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0016|
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0017| The roll call vote was 13 For 0 Against
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0018| Yes: 13
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0019| Excused: None
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0020| Absent: None
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0021|
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0022|
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0023|
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0024| H0708TR1 State of New Mexico
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0025| House of Representatives
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0001|
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0002| FORTY-SECOND LEGISLATURE
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0003| SECOND SESSION, 1996
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0004|
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0005|
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0006| February 10,1996
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0007|
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0008|
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0009| Mr. Speaker:
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0010|
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0011| Your APPROPRIATIONS AND FINANCE COMMITTEE, to
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0012| whom has been referred
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0013|
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0014| HOUSE BILL 708
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0015|
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0016| has had it under consideration and reports same with
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0017| recommendation that it DO PASS, amended as follows:
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0018|
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0019| 1. On page 2, strike lines 8 through 11 an insert in lieu
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0020| thereof:
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0021|
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0022| "(4) to support temporary negative balances in any state
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0023| fund or account if the secretary of financeand administration
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0024| finds that amounts sufficientto cover the negative balance
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0025| are in anotherstate fund or account and, pursuant to
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0001| established distribution procedures, will be transferred to
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0002| the account with the negative balance in the normal course of
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0003| business.".
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0004|
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0005| 2. On page 2, lines 12 and 13, strike "transferred or used
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0006| to
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0007| support periodic allotments" and insert in lieu thereof "used
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0008| pursuant to Subsection A of this section".
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0009|
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0010| 3. On page 2, lines 15 and 16, strike "by the end of the"
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0011| and insert in lieu thereof "for that".
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0012|
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0013| Respectfully submitted,
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0014|
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0015|
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0016|
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0017|
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0018|
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0019| Max Coll, Chairman
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0020|
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0021|
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0022| Adopted Not Adopted
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0023|
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0024| (Chief Clerk) (Chief Clerk)
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0025|
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0001| Date
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0002|
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0003| The roll call vote was 12 For 1 Against
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0004| Yes: 12
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0005| No: Bird
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0006| Excused: Buffett, Casey, Gentry, Martinez, Wallace
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0007| Absent: None
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0008|
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0009|
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0010|
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0011| H0708AF1
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0012|
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0013| FORTY-SECOND LEGISLATURE
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0014| SECOND SESSION, 1996
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0015|
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0016|
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0017| February 13, 1996
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0018|
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0019| Mr. President:
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0020|
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0021| Your WAYS AND MEANS COMMITTEE, to whom has been
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0022| referred
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0023|
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0024| HOUSE BILL 708, as amended
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0025|
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0001| has had it under consideration and reports same with
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0002| recommendation that it DO PASS, and thence referred to the
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0003| FINANCE COMMITTEE.
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0004|
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0005| Respectfully submitted,
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0006|
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0007|
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0008|
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0009| __________________________________
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0010| TITO D. CHAVEZ, Chairman
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0011|
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0012|
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0013|
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0014| Adopted_______________________ Not Adopted_______________________
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0015| (Chief Clerk) (Chief Clerk)
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0016|
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0017|
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0018| Date ________________________
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0019|
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0020|
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0021| The roll call vote was 5 For 0 Against
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0022| Yes: 5
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0023| No: 0
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0024| Excused: Campos, Rhodes, Romero
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0025| Absent: None
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0001|
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0002|
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0003| H0708WM1
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0004|
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0005|
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0006|
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0007| FORTY-SECOND LEGISLATURE
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0008| SECOND SESSION, 1996
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0009|
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0010|
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0011| February 14, 1996
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0012|
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0013| Mr. President:
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0014|
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0015| Your FINANCE COMMITTEE, to whom has been referred
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0016|
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0017| HOUSE BILL 708, as amended
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0018|
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0019| has had it under consideration and reports same with
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0020| recommendation that it DO PASS, amended as follows:
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0021|
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0022| 1. On page 2, lines 18 and 19, strike "to support periodic
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0023| allotments to state agencies" and insert in lieu thereof "pursuant
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0024| to Subsection A of this section".
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0025|
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0001| 2. On page 3, strike line 17 and insert in lieu thereof
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0002| "federally approved cash drawdowns.".
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0003|
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0004| 3. On page 3, lines 23 and 24, strike "established warrant-clearing patterns" and insert in lieu thereof "federally approved
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0005| cash drawdowns".
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0006|
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0007|
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0008| Respectfully submitted,
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0009|
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0010|
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0011|
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0012| __________________________________
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0013| Ben D. Altamirano, Chairman
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0014|
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0015|
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0016|
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0017| Adopted_______________________ Not Adopted_______________________
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0018| (Chief Clerk) (Chief Clerk)
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0019|
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0020|
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0021| Date ________________________
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0022|
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0023|
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0024|
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0025|
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0001|
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0002|
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0003|
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0004|
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0005|
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0006|
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0007| The roll call vote was 8 For 0 Against
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0008| Yes: 8
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0009| No: 0
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0010| Excused: Donisthorpe, Duran, Ingle, Kidd, Kysar
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0011| Absent: None
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0012|
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0013|
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0014| H0708FC1 .112209.1
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0015|
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0016|
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