0001|                           HOUSE BILL 1108
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                              FRED LUNA
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0005|     
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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|                                AN ACT
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0011|     RELATING TO PUBLIC FINANCE; AMENDING A CERTAIN SECTION OF THE
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0012|     NMSA 1978 PERTAINING TO EMERGENCY LOANS AND GRANTS BY THE STATE
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0013|     BOARD OF FINANCE.
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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 6-1-2 NMSA 1978 (being Laws 1959,
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0017|     Chapter 139, Section 1, as amended) is amended to read:
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0018|          "6-1-2.  STATE BOARD OF FINANCE--LOANS AND GRANTS OF
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0019|     EMERGENCY FUNDS.--If the state board of finance determines that
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0020|     an emergency exists that warrants such action, it may lend or
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0021|     grant to any state agency, board, commission, municipal
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0022|     corporation or other political subdivision organized under the
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0023|     laws of the state that sum of money the board determines
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0024|     reasonable and appropriate from any funds appropriated to the
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0025|     board for use in meeting emergencies. <u>Requests to offset
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<u></u>0001| <u>    deficiencies of political subdivisions of the state that are
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<u></u>0002| <u>    school districts shall receive priority over all other requests
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<u></u>0003| <u>    for emergency funds.</u>"
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0004|                                                         State of New Mexico
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0005|                      House of Representatives
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0006|   
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0007|                      FORTY-THIRD LEGISLATURE
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0008|                        FIRST SESSION, 1997
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0009|   
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0010|   
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0011|                                                  March 10, 1997
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0012|   
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0013|   
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0014|   Mr. Speaker:
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0015|   
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0016|        Your EDUCATION COMMITTEE, to whom has been referred
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0017|   
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0018|                       HOUSE BILL 1108
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0019|   
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0020|   has had it under consideration and reports same WITHOUT
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0021|   RECOMMENDATION, and thence referred to the
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0022|   APPROPRIATIONS AND FINANCE COMMITTEE.
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0023|   
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0024|                                 Respectfully submitted,
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0025|   
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0001|   
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0002|   
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0003|                                 <u>                                
</u>    |
<u></u>0004| <u>  
</u>    |
<u></u>0005| <u>                                </u>                             Samuel F. Vigil, Chairman
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0006|   
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0007|   
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0008|   Adopted <u>                    </u>     Not Adopted <u>                    
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<u></u>0009| <u>   </u>
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0010|             (Chief Clerk)                       (Chief Clerk)
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0011|   
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0012|                        Date <u>            </u>
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0013|   
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0014|   The roll call vote was<u> 11 </u> For<u> 0 </u> Against
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0015|   Yes:      11
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0016|             Excused:  McSherry, Nicely
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0017|             Absent:   None
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0018|   
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0019|   
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0020|                                                                
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0021|   G:\BILLTEXT\BILLW_97\H1108
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