0001|                         SENATE BILL 2
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0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - FIRST SPECIAL
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0003|     SESSION, 1996
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0004|                         INTRODUCED BY
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0005|                        MANNY M. ARAGON
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0006|     
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0007|                                
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0008|     
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0009|     
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0010|     
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0011|                             AN ACT
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0012|     AUTHORIZING TRANSFERS FROM THE GENERAL FUND OPERATING RESERVE;
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0013|     DECLARING AN EMERGENCY.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|       Section 1.  TRANSFERS FROM THE GENERAL FUND OPERATING
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0017|     RESERVE TO THE GENERAL FUND.--
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0018|            A.  Upon a determination that fiscal year 1995
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0019|     revenues and transfers to the general fund, including the
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0020|     transfer authorized by Laws 1995, Chapter 30, Section 8, are not
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0021|     sufficient to meet the general fund appropriations in Laws 1995,
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0022|     Chapter 222, the governor, with state board of finance approval,
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0023|     is authorized to transfer forty million dollars ($40,000,000) in
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0024|     fiscal year 1996 from the general fund operating reserve to the
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0025|     general fund to meet those appropriations.
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0001|            B.  Upon a determination that fiscal year 1995
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0002|     revenues and transfers to the general fund, including the
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0003|     transfer authorized by Laws 1995, Chapter 30, Section 8 and the
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0004|     transfer in Subsection A of this section, are not sufficient to
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0005|     meet remaining fiscal year 1995 appropriations, the governor,
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0006|     with state board of finance approval, is authorized to transfer
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0007|     in fiscal year 1997 twenty-five million one hundred thousand
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0008|     dollars ($25,100,000) to the general fund, provided that total
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0009|     general fund revenues in fiscal year 1996 exceed two billion
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0010|     seven hundred twenty-seven thousand dollars ($2,727,000,000) and
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0011|     further provided that total general fund revenues in fiscal year
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0012|     1997 are projected to exceed two billion nine hundred nine
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0013|     million dollars ($2,909,000,000).
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0014|       Section 2.  EMERGENCY.--It is necessary for the public
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0015|     peace, health and safety that this act take effect immediately.
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0016|           
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0017|   
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0018|                    FORTY-SECOND LEGISLATURE
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0019|                  FIRST SPECIAL SESSION, 1996
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0020|   
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0021|   
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0022|                                                March 20, 1996
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0023|   
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0024|   Mr. President:
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0025|   
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0001|     Your FINANCE COMMITTEE, to whom has been referred
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0002|   
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0003|                         SENATE BILL 2
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0004|   
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0005|   has had it under consideration and reports same with
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0006|   recommendation that it DO NOT PASS, but that
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0007|   
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0008|                  SENATE FINANCE COMMITTEE SUBSTITUTE 
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0009|                          FOR SENATE BILL 2
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0010| 
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0011|   DO PASS.
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0012|                              Respectfully submitted,
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0013|   
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0014|   
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0015|   
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0016|                              __________________________________
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0017|                              Ben D. Altamirano, Chairman 
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0018|   
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0019|   
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0020|   Adopted_______________________ Not Adopted_______________________
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0021|             (Chief Clerk)                          (Chief Clerk)
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0022|   
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0023|   
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0024|                     Date ________________________
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0025|   
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0001|   
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0002|   The roll call vote was <u> 11 </u> For <u> 0 </u> Against
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0003|   Yes:  11
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0004|   No:        0
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0005|   Excused:   Ingle, Jennings, T.
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0006|   Absent:    None
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0007|   
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0008|   
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0009|   S0002FC1
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0010|                                              SENATE FINANCE COMMITTEE SUBSTITUTE FOR
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0011|                         SENATE BILL 2
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0012|     42nd legislature - STATE OF NEW MEXICO - first special session, 1996
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0013|                                
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0014|     
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0015|     
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0016|                                
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0017|     
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0018|     
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0019|     
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0020|                             AN ACT
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0021|     AUTHORIZING A TRANSFER FROM THE GENERAL FUND OPERATING RESERVE TO THE
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0022|     GENERAL FUND; DECLARING AN EMERGENCY.
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0023|     
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0024|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0025| SECTION 1.  TRANSFER FROM THE GENERAL FUND OPERATING RESERVE TO
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0001|     THE GENERAL FUND.--Upon a determination that fiscal year 1995
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0002|     revenues and transfers to the general fund, including the transfer
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0003|     authorized by Laws 1995, Chapter 30, Section 8, are not sufficient to
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0004|     meet fiscal year 1995 appropriations, the governor, with state board
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0005|     of finance approval, is authorized to transfer sixty-five million one
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0006|     hundred thousand dollars
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0007|     ($65,100,000) from the general fund operating reserve to the general
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0008|     fund to meet that fiscal year's obligations.
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0009|       Section 2.  EMERGENCY.--It is necessary for the public peace,
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0010|         health and safety that this act take effect immediately.                              State of New Mexico
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0011|                     House of Representatives
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0012|   
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0013|                     FORTY-SECOND LEGISLATURE
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0014|                   FIRST SPECIAL SESSION, 1996
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0015|   
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0016|   
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0017|                                                  March 20, 1996
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0018|   
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0019|   
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0020|   Mr. Speaker:
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0021|   
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0022|       Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom
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0023|   has been referred
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0024|   
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0025|              SENATE FINANCE COMMITTEE SUBSTITUTE
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0001|                        FOR SENATE BILL 2
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0002|                                 
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0003|                                  has had it under consideration and reports same with
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0004|   recommendation that it DO PASS.
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0005|   
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0006|                                Respectfully submitted,
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0007|   
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0008|   
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0009|   
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0010|                                <u>                                 
</u>    |
<u></u>0011| <u>  </u>                            Max Coll, Chairman
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0012|   
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0013|   
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0014|   Adopted <u>                    </u>    Not Adopted <u>                      </u>
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0015|            (Chief Clerk)                       (Chief Clerk)
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0016|   
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0017|                       Date <u>            </u>
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0018|   
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0019|   The roll call vote was <u> 18 </u> For <u> 0 </u> Against
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0020|   Yes:          18
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0021|   Excused: None
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0022|   Absent:  None
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0023|   
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0024|   
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0025|                                                                
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0001|   S0002AF1
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