SENATE BILL 318
56th legislature - STATE OF NEW MEXICO - first session, 2023
MAKING AN APPROPRIATION TO THE JUDICIAL RETIREMENT FUND TO ADDRESS SOLVENCY ISSUES RELATED TO THE JUDICIAL RETIREMENT ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--Twenty million dollars ($20,000,000) is appropriated from the general fund to the judicial retirement fund for expenditure in fiscal year 2024 and subsequent fiscal years to address solvency issues related to the Judicial Retirement Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.