45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO PUBLIC MASS TRANSPORTATION; RAISING THE EXPENDITURE CAP ON FUNDS USED BY THE STATE HIGHWAY AND TRANSPORTATION DEPARTMENT; MAKING AN APPROPRIATION.

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

Section 1. Section 67-3-70 NMSA 1978 (being Laws 1975, Chapter 343, Section 4, as amended) is amended to read:

"67-3-70. USE OF APPROPRIATED FUNDS.--The [state highway and transportation] department may expend such portion of its appropriated funds as it deems necessary to effectuate the purposes of the Public Mass Transportation Act; provided that such expenditure of funds which are not eligible for federal reimbursement shall not exceed [fifty thousand dollars ($50,000)] three hundred thousand dollars ($300,000) in any one fiscal year."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2001.