SENATE BILL 85

51st legislature - STATE OF NEW MEXICO - second session, 2014

INTRODUCED BY

Richard C. Martinez

ENDORSED BY THE MORTGAGE FINANCE AUTHORITY ACT

OVERSIGHT COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO EXPAND A RESIDENTIAL ENERGY CONSERVATION PROGRAM FOR LOW-INCOME PERSONS.

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

    SECTION 1. APPROPRIATION.--One million dollars ($1,000,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal years 2015 and 2016 for the New Mexico mortgage finance authority to provide for a residential energy conservation program to increase the energy efficiency and reduce energy expenditures of homes occupied by low-income persons in New Mexico. No more than five percent of this appropriation shall be used by the New Mexico mortgage finance authority for administrative expenses. Any unexpended or unencumbered balance remaining at the end of fiscal year 2016 shall revert to the general fund.

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