SENATE BILL 74

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Cynthia Nava

FOR THE LEGISLATIVE EDUCATION STUDY COMMITTEE

AN ACT

MAKING AN APPROPRIATION TO THE NEW SCHOOL DEVELOPMENT FUND FOR UNIQUE COSTS ASSOCIATED WITH THE FIRST YEAR OF OPERATION OF A NEW SCHOOL; DECLARING AN EMERGENCY.

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 new school development fund for expenditure in fiscal year 2007 and subsequent fiscal years to make distributions to school districts to pay costs unique to the first year of operation of new schools. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.

     Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.