0001| HOUSE BILL 1268 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| BEN LUJAN | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO PUBLIC BUILDINGS; TRANSFERRING INCOME AND | 0012| DISTRIBUTIONS CREDITABLE TO THE CAPITOL BUILDINGS REPAIR FUND; | 0013| AUTHORIZING THE ISSUANCE OF REVENUE BONDS; AMENDING AND | 0014| ENACTING CERTAIN SECTIONS OF THE NMSA 1978; CREATING A LONG- | 0015| RANGE PLANNING COMMISSION FOR STATE BUILDINGS IN SANTA FE; | 0016| MAKING APPROPRIATIONS. | 0017| | 0018| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0019| Section 1. NEW MEXICO FINANCE AUTHORITY REVENUE BONDS-- | 0020| PURPOSE--CERTIFICATION--APPROPRIATION.-- | 0021| A. The New Mexico finance authority may issue and | 0022| sell in installments or at one time revenue bonds in compliance | 0023| with the New Mexico Finance Authority Act in an amount not to | 0024| exceed ten million one hundred fifty-five thousand dollars | 0025| ($10,155,000) for the purpose of repairing, remodeling, | 0001| constructing and equipping a state building located adjacent to | 0002| the state capitol in Santa Fe known as the New Mexico state | 0003| library and for relocation-associated renovations in the state | 0004| capitol. | 0005| B. Monthly, all income and distributions creditable | 0006| to the capitol buildings repair fund shall be distributed by | 0007| the state treasurer to the New Mexico finance authority and are | 0008| appropriated to the authority to be pledged irrevocably for the | 0009| payment of the principal, interest, any premium and expenses | 0010| related to the bonds authorized pursuant to this section. | 0011| C. All income and distributions to the capitol | 0012| buildings repair fund distributed to the New Mexico finance | 0013| authority shall be deposited in a special bond fund or | 0014| segregated account of the authority. At the end of each month, | 0015| any money remaining in the special bond fund or segregated | 0016| account from distribution made to the authority during each | 0017| month, after all debt service, accumulations, expenses or | 0018| obligations required by the resolution authorizing issuance of | 0019| the bonds to be satisfied or paid during each month and any | 0020| deficiencies from prior months are fully satisfied or paid, | 0021| shall be transferred by the authority to the state treasurer | 0022| for deposit into the capitol buildings repair fund. Upon | 0023| payment of all principal and interest and any other expenses or | 0024| obligations related to the bonds authorized by this section, | 0025| the New Mexico finance authority shall certify to the state | 0001| treasurer that all obligations for the bonds issued pursuant to | 0002| this section have been fully discharged and direct the state | 0003| treasurer to cease the distribution to the authority. | 0004| D. The legislature shall not repeal, amend or | 0005| otherwise modify any law that affects or impairs the revenue | 0006| bonds of the New Mexico finance authority secured by a pledge | 0007| of the income and distributions creditable to the capitol | 0008| buildings repair fund. | 0009| E. The New Mexico finance authority may issue and | 0010| sell revenue bonds authorized by this section when the | 0011| legislative council service certifies the need for issuance of | 0012| the bonds. The net proceeds from the sale of the bonds are | 0013| appropriated to the legislative council service for the | 0014| purposes described in Subsection A of this section. | 0015| F. Upon certification by the New Mexico finance | 0016| authority that the state building project is sufficiently | 0017| developed to warrant the issuance of bonds by the authority, | 0018| the state treasurer shall commence monthly payments of income | 0019| and distributions creditable to the capitol buildings repair | 0020| fund to the New Mexico finance authority. | 0021| Section 2. Section 7-27-5 NMSA 1978 (being Laws 1983, | 0022| Chapter 306, Section 7, as amended) is amended to read: | 0023| "7-27-5. INVESTMENT OF SEVERANCE TAX PERMANENT FUND.--The | 0024| severance tax permanent fund shall be invested for two general | 0025| purposes, to provide income to the fund and to stimulate the | 0001| economy of New Mexico, preferably on a continuing basis. The | 0002| investments in Sections 7-27-5.1 and 7-27-5.6 NMSA 1978 shall | 0003| be those intended to provide maximum income to the fund and | 0004| shall be referred to as the market rate investments. The | 0005| investments permitted in Sections 7-27-5.3 through 7-27-5.5, | 0006| [7-27-5.7] | 0007| 7-27-5.13 through 7-27-5.17, [and 7-27-5.21] 7-27-5.22 and | 0008| 7-27-5.3 NMSA 1978 shall be those intended to stimulate the | 0009| economy of New Mexico and shall be referred to as the | 0010| differential rate investments. The prudent man rule shall be | 0011| applied to the market rate investments, and the state | 0012| investment officer shall keep separate records of the earnings | 0013| of the market rate investments. All transactions entered into | 0014| on or after July 1, 1991 shall be accounted for in accordance | 0015| with generally accepted accounting principles." | 0016| Section 3. A new section of the Severance Tax Bonding | 0017| Act, Section 7-27-5.23 NMSA 1978, is enacted to read: | 0018| "7-27-5.23. [NEW MATERIAL] SEVERANCE TAX PERMANENT | 0019| FUND--INVESTMENT IN OBLIGATIONS ISSUED FOR STATE CAPITOL | 0020| BUILDINGS AND RENOVATIONS.--Subject to the approval of the | 0021| state investment council, the severance tax permanent fund may | 0022| be invested in revenue bonds issued by the New Mexico finance | 0023| authority for state capitol buildings and relocation-associated | 0024| renovations in the state capitol. The amount invested shall | 0025| not exceed ten million one hundred fifty-five thousand dollars | 0001| ($10,155,000)." | 0002| Section 4. Section 15-3-24 NMSA 1978 (being Laws 1972, | 0003| Chapter 74, Section 4, as amended) is amended to read: | 0004| "15-3-24. CAPITOL BUILDINGS REPAIR FUND--CREATION-- | 0005| EXPENDITURES.-- | 0006| A. The "capitol buildings repair fund" is created. | 0007| To this fund shall be transferred, after payments required by | 0008| Section 1 of this 1997 act to the New Mexico finance | 0009| authority, all income, including earnings on investments, | 0010| derived from lands granted to the state by the United States | 0011| congress for legislative, executive and judicial public | 0012| buildings. Two percent of this fund shall be transferred | 0013| annually to a "state capitol maintenance fund", hereby created, | 0014| as a special perpetual fund for the upkeep and maintenance of | 0015| the capitol renovation and capitol grounds. | 0016| B. The capitol buildings repair fund may be used to | 0017| repair, remodel and equip capitol buildings and adjacent lands, | 0018| to repair or replace building machinery and building equipment | 0019| located in capitol buildings and to contract for options to | 0020| purchase real estate, such real estate, if purchased, to be put | 0021| to state use; provided that no more than ten thousand dollars | 0022| ($10,000) shall be expended for any single option. Any money | 0023| used for consideration in acquiring an option to purchase real | 0024| estate shall be applied against the purchase price of the real | 0025| estate if the option is exercised. No money shall be expended | 0001| from the capitol buildings repair fund without authorization of | 0002| the state board of finance. | 0003| C. In the event any capital outlay project exceeds | 0004| authorized project cost by no more than five percent, the state | 0005| board of finance may authorize the property control division of | 0006| the general services department to supplement the authorized | 0007| cost by an allocation not to exceed five percent of the | 0008| authorized cost from the capitol buildings repair fund to the | 0009| extent of the unencumbered and unexpended balance of the fund." | 0010| Section 5. [NEW MATERIAL] CAPITOL BUILDINGS PLANNING | 0011| COMMISSION CREATED.-- | 0012| A. The "capitol buildings planning commission" is | 0013| created to study and plan for the long-range facilities needs | 0014| of state government in Santa Fe. The commission shall review | 0015| prior long-range facilities needs assessments and develop an | 0016| initial master plan for the state facilities in Santa Fe. | 0017| B. The commission shall be composed of four members | 0018| of the legislature, two from each house, appointed by the New | 0019| Mexico legislative council, the secretary of general services, | 0020| the New Mexico staff architect, the secretary of finance and | 0021| administration or his designee, the commissioner of public | 0022| lands or his designee and the chairman of the supreme court | 0023| building commissioner or his designee. | 0024| C. The legislative council service shall provide | 0025| staff for the commission in coordination with the staff of the | 0001| general services department. | 0002| D. The commission shall meet and shall report | 0003| annually to the legislature on an annual update of the master | 0004| plan for the long-range facilities needs for state government | 0005| in Santa Fe. | 0006| Section 6. APPROPRIATION.-- | 0007| A. Three million five hundred thousand dollars | 0008| ($3,500,000) is appropriated from the cash balances of the | 0009| legislative council service that remain from the appropriations | 0010| for session and session preparation expenses and other | 0011| legislative expenses authorized in Paragraph (4) of Subsection | 0012| A of Section 4 of Chapter 355 of Laws 1987; Subsections B and C | 0013| of Section 7 and Section 10 of Chapter 1 of Laws 1989; | 0014| Subsections A through C of Section 1 of Chapter 1 of Laws 1990 | 0015| (2nd S.S.); Subsections B, D, F and H of Section 2, Subsections | 0016| B and C of Section 7 and Sections 10 and 11 of Chapter 1 of | 0017| Laws 1990; Subsection N of Section 3 of Chapter 131 of Laws | 0018| 1990; Subsections A through C of Section 1 of Chapter 1 of Laws | 0019| 1991 (1st S.S.); Subsections A through H and J of Section 2 and | 0020| Subsections B and C of Section 7 of Chapter 1 of Laws 1991; | 0021| Section 5 of Chapter 10 of Laws 1991; Subsections A through C | 0022| of Section 1 of Chapter 1 of Laws 1992 (2nd S.S.); Subsections | 0023| A through H of Section 2, Subsections B and C of Section 7 and | 0024| Section 10 of Chapter 1 of Laws 1992; Paragraphs (2) through | 0025| (4) and (6) of Subsection A of Section 4 of Chapter 94 of Laws | 0001| 1992; Subsections A through H and J of Section 2, Subsections B | 0002| through D of Section 7 and Section 10 of Chapter 1 of Laws | 0003| 1993; Section 4 of Chapter 365 of Laws 1993; Subsection A of | 0004| Section 3 of Chapter 366 of Laws 1993; Subsection C of Section | 0005| 22 of Chapter 65 of Laws 1993; Subsections A through H and J of | 0006| Section 2, Subsections B and C of Section 7 and Section 10 of | 0007| Chapter 1 of Laws 1994; Paragraphs (2) through (4) of | 0008| Subsection A of Section 4 of Chapter 6 of Laws 1994; and | 0009| Subsections A, C, E and G of Section 2 of Chapter 1 of Laws | 0010| 1995 for expenditure in fiscal years 1998 through 2000 to | 0011| renovate the existing state library building. Any unexpended | 0012| or unencumbered balance remaining at the end of fiscal year | 0013| 2000 shall not revert to the general fund. | 0014| B. Two million dollars ($2,000,000) is appropriated | 0015| from the general fund to the legislative council service for | 0016| expenditure in fiscal years 1999 and 2000 to renovate the | 0017| existing state library building. Any unexpended or | 0018| unencumbered balance remaining at the end of fiscal year 2000 | 0019| shall revert to the general fund. | 0020| C. One hundred thousand dollars ($100,000) is | 0021| appropriated from the general fund to the general services | 0022| department for expenditure in fiscal years 1998 and 1999 to | 0023| provide staff support and planning expertise to the capital | 0024| buildings planning commission. Any unexpended or unencumbered | 0025| balance remaining at the end of fiscal year 1999 shall revert | 0001| to the general fund. | 0002|  State of New Mexico | 0003| House of Representatives | 0004| | 0005| FORTY-THIRD LEGISLATURE | 0006| FIRST SESSION, 1997 | 0007| | 0008| | 0009| March 6, 1997 | 0010| | 0011| | 0012| Mr. Speaker: | 0013| | 0014| Your GOVERNMENT AND URBAN AFFAIRS COMMITTEE, to | 0015| whom has been referred | 0016| | 0017| HOUSE BILL 1268 | 0018| | 0019| has had it under consideration and reports same with | 0020| recommendation that it DO PASS, and thence referred to the | 0021| APPROPRIATIONS AND FINANCE COMMITTEE. | 0022| | 0023| Respectfully submitted, | 0024| | 0025| | 0001| | 0002| | 0003| | 0004| Lynda M. Lovejoy, Chairwoman | 0005| | 0006| | 0007| Adopted Not Adopted | 0008| | 0009| (Chief Clerk) (Chief Clerk) | 0010| | 0011| Date | 0012| | 0013| The roll call vote was 7 For 0 Against | 0014| Yes: 7 | 0015| Excused: Hobbs | 0016| Absent: None | 0017| | 0018| | 0019| G:\BILLTEXT\BILLW_97\H1268 State of New Mexico | 0020| House of Representatives | 0021| | 0022| FORTY-THIRD LEGISLATURE | 0023| FIRST SESSION, 1997 | 0024| | 0025| | 0001| March 10, 1997 | 0002| | 0003| | 0004| Mr. Speaker: | 0005| | 0006| Your APPROPRIATIONS AND FINANCE COMMITTEE, to | 0007| whom has been referred | 0008| | 0009| HOUSE BILL 1268 | 0010| | 0011| has had it under consideration and reports same with | 0012| recommendation that it DO PASS, amended as follows: | 0013| | 0014| 1. On page 4, line 7, strike the underscored material and | 0015| insert in lieu thereof, "7-27-5.24". | 0016| | 0017| 2. On page 4, line 16, strike "7-27-5.23" and insert in | 0018| lieu thereof "7-27-5.24". | 0019| | 0020| 3. On page 4, line 17, strike "7-27-5.23" and insert in | 0021| lieu thereof "7-27-5.24". | 0022| | 0023| 4. On page 5, line 7, strike "earnings on investments" and | 0024| insert in lieu thereof "distributions from the land grant | 0025| permanent fund". | 0001| | 0002| 5. On page 5, line 24, after "without" insert "prior | 0003| appropriation, except in emergency situations which must have | 0004| the". | 0005| | 0006| 6. On page 8, strike all of lines 18 and 19 and on line 20, | 0007| strike "department" and insert in lieu thereof: | 0008| | 0009| "C. Sixty-five thousand dollars ($65,000) is | 0010| appropriated from the cash balances of the legislative council | 0011| service from Subsection J of Section 2 of Chapter 1 of Laws 1995 | 0012| to the legislative council service". | 0013| | 0014| 7. On page 8, line 20, at the end of the line insert the | 0015| following "coordinate with the general services department to". | 0016| | 0017| Respectfully submitted, | 0018| | 0019| | 0020| | 0021| | 0022| | 0023| Max Coll, Chairman | 0024| | 0025| | 0001| Adopted Not Adopted | 0002| | 0003| (Chief Clerk) (Chief Clerk) | 0004| | 0005| Date | 0006| | 0007| The roll call vote was 10 For 2 Against | 0008| Yes: 10 | 0009| No: Abeyta, Heaton | 0010| Excused: Bird, Salazar, Townsend, Varela, Wallace | 0011| Absent: None | 0012| | 0013| | 0014| .118571.2 | 0015| G:\BILLTEXT\BILLW_97\H1268 FORTY-THIRD LEGISLATURE | 0016| FIRST SESSION | 0017| | 0018| | 0019| March 17, 1997 | 0020| | 0021| | 0022| SENATE FLOOR AMENDMENT number _______ to HOUSE BILL 1268, as | 0023| amended | 0024| | 0025| Amendment sponsored by Senator | 0001| | 0002| | 0003| 1. Strike House Appropriations and Finance Committee | 0004| Amendment 5. | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| __________________________ | 0012| | 0013| | 0014| | 0015| | 0016| Adopted ___________________ Not Adopted _______________________ | 0017| (Chief Clerk) (Chief Clerk) | 0018| | 0019| | 0020| Date _________________ |