0001| SENATE BILL 686
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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| MANNY M. ARAGON
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0007|
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0008|
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0009|
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0010|
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0011| AN ACT
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0012| AUTHORIZING A TRANSFER FROM THE GENERAL FUND OPERATING RESERVE
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0013| TO MEET FISCAL YEAR 1995 OBLIGATIONS; 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. TRANSFER AUTHORITY--GENERAL FUND OPERATING
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0017| RESERVE.--Upon a determination that fiscal year 1995 revenues
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0018| and transfers to the general fund, including the transfer
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0019| authorized by Laws 1995, Chapter 30, Section 8, are not
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0020| sufficient to meet fiscal year 1995 appropriations, the
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0021| governor, with state board of finance approval, is authorized to
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0022| transfer sixty-five million five hundred thousand dollars
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0023| ($65,500,000) from the unencumbered balance in the general fund
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0024| operating reserve for expenditure to meet that fiscal year's
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0025| obligations.
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0001| Section 2. EMERGENCY.--It is necessary for the public
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0002| peace, health and safety that this act take effect immediately.
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0003|
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0004|
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0005| FORTY-SECOND LEGISLATURE
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0006| SECOND SESSION, 1996
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0007|
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0008|
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0009| JANUARY 31, 1996
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0010|
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0011| Mr. President:
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0012|
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0013| Your COMMITTEES' COMMITTEE, to whom has been referred
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0014|
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0015| SENATE BILL 686
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0016|
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0017| has had it under consideration and finds same to be GERMANE, PURSUANT
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0018| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE
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0019| COMMITTEE.
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0020|
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0021| Respectfully submitted,
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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| SENATOR MANNY M. ARAGON, Chairman
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0003|
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0004|
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0005|
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0006| Adopted_______________________ Not Adopted_______________________
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0007| (Chief Clerk) (Chief Clerk)
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0008|
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0009|
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0010| Date ________________________
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0011|
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0012|
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0013|
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0014| S0686CC1
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0015|
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0016| FORTY-SECOND LEGISLATURE
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0017| SECOND SESSION, 1996
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0018|
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0019|
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0020| February 12, 1996
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0021|
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0022| Mr. President:
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0023|
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0024| Your FINANCE COMMITTEE, to whom has been referred
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0025|
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0001| SENATE BILL 686
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0002|
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0003| has had it under consideration and reports same with recommendation that
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0004| it DO PASS.
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0005|
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0006| Respectfully submitted,
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0007|
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0008|
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0009|
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0010| __________________________________
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0011| Ben D. Altamirano, Chairman
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0012|
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0013|
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0014|
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0015| Adopted_______________________ Not Adopted_______________________
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0016| (Chief Clerk) (Chief Clerk)
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0017|
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0018|
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0019|
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0020| Date ________________________
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0021|
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0022|
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0023| The roll call vote was 8 For 0 Against
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0024| Yes: 8
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0025| No: 0
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0001| Excused: Donisthrope, Duran, Ingle, Kidd, Kysar
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0002| Absent: None
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0003|
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0004|
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0005| S0686FC1
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0006| FORTY-SECOND LEGISLATURE
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0007| SECOND SESSION
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0008|
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0009|
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0010| February 14, 1996
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0011|
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0012|
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0013| SENATE FLOOR AMENDMENT number _______ to SENATE BILL 686
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0014|
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0015| Amendment sponsored by Senator Manny M. Aragon
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0016|
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0017|
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0018| 1. On page 1, line 19, after "appropriations" insert "and
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0019| contingent upon the enactment into law of Senate Bill 687 of the second
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0020| session of the forty-second legislature".
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0021|
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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| Manny M. Aragon
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0005|
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0006|
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0007|
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0008| Adopted ___________________ Not Adopted _____________________
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0009| (Chief Clerk) (Chief Clerk)
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0010|
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0011|
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0012| Date _________________
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0013| FORTY-SECOND LEGISLATURE
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0014| SECOND SESSION
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0015|
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0016|
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0017| February 15, 1996
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0018|
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0019|
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0020| HOUSE FLOOR AMENDMENT number ______ to SENATE BILL 686, as amended
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0021|
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0022| Amendment sponsored by Representative
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0023|
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0024|
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0025| 1. Strike Senate Floor Amendment 1.
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0001|
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0002| 2. On page 1, line 11, after "RESERVE" insert "AND OTHER FUNDS".
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0003|
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0004| 3. On page 1, line 16, after the dashes strike the remainder of the
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0005| line and strike all of lines 17 through 24 and insert in lieu thereof:
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0006|
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0007| "A. Upon a determination that fiscal year 1995 revenues and
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0008| transfers to the general fund, including the transfer authorized by Laws
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0009| 1995, Chapter 30, Section 8, are not sufficient to meet fiscal year 1995
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0010| appropriations, and contingent upon the enactment into law of Senate
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0011| Bill 687 and House Appropriations and Finance Committee Substitute for
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0012| House Bills 2, 3, 4, 5, 6 and 8 of the second session of the forty-second legislature, the governor, with state board of finance approval,
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0013| is authorized to make the following transfers in order to meet that
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0014| fiscal year's obligations:
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0015|
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0016| "(1) twenty-four million four hundred fifty thousand
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0017| dollars ($24,450,000) from the general fund operating reserve;
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0018|
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0019| (2) seven million five hundred thousand dollars
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0020| ($7,500,000) from the subsequent injury fund; and
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0021|
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0022| (3) one million two hundred fifty thousand dollars
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0023| ($1,250,000) from the long-term lease guarantee fund.
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0024|
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0025| B. Upon a determination that fiscal year 1995 revenues and
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0001| transfers to the general fund, including the transfer authorized by Laws
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0002| 1995, Chapter 30, Section 8 and the transfers authorized by Subsection A
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0003| of this section, are not sufficient to meet fiscal year 1995
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0004| appropriations and contingent upon the enactment into law of Senate Bill
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0005| 687 and House Appropriations and Finance Committee Substitute for House
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0006| Bills 2, 3, 4, 5, 6 and 8 of the second session of the forty-second
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0007| legislature, after April 1, 1997 the governor, with state board of
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0008| finance approval, is authorized to transfer thirty-one million nine
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0009| hundred thousand dollars ($31,900,000) from the general fund operating
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0010| reserve to meet that fiscal year's obligations.".
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0011|
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0012|
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0013|
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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|
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0020|
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0021|
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0022|
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0023| Adopted___________________ Not Adopted___________________________
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0024| (Chief Clerk) (Chief Clerk)
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0025|
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0001|
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0002| Date ________________
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