SENATE BILL 200
54th legislature - STATE OF NEW MEXICO - second session, 2020
George K. Munoz and Clemente Sanchez
MAKING AN APPROPRIATION TO THE ECONOMIC DEVELOPMENT DEPARTMENT TO SUPPORT LOCAL ECONOMIC DEVELOPMENT PROJECTS IN CIBOLA AND MCKINLEY COUNTIES PURSUANT TO THE LOCAL ECONOMIC DEVELOPMENT ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--Fifty million dollars ($50,000,000) is appropriated from the general fund to the economic development department for expenditure in fiscal years 2021 and 2022 to provide money for economic development projects in Cibola and McKinley counties pursuant to the Local Economic Development Act. Any unexpended or unencumbered balance remaining at the end of fiscal year 2022 shall revert to the general fund.