State of New Mexico
                      House of Representatives
  
                      FORTY-THIRD LEGISLATURE
                        FIRST SESSION, 1997
  
  
                                                   March 15, 1997
  
  
  Mr. Speaker:
  
       Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom
  has been referred
  
                        HOUSE BILL 512
                               
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 1, line 15, before the period insert "; DECLARING
  AN EMERGENCY".
  
       2.  On page 5, between lines 11 and 12, insert the following
  new sections:
  
       "Section 2.  Section 21-19-11 NMSA 1978 (being Laws 1983,
  Chapter 299, Section 5, as amended) is amended to read:
  
       "21-19-11.  FUNDS CREATED.--
  
            A.  There is created in the state treasury the
  "development training fund".  Money appropriated to the fund or
  accruing to it through gifts, grants, repayments or bequests shall
  not be transferred to any other fund or be encumbered or disbursed
  in any manner except as provided in Section 21-19-7 NMSA 1978. 
  Money in the fund shall not revert at the end of any fiscal year. 
  Money in the fund is appropriated to the economic development
  department.  Money in the fund shall be expended [only as provided]
  upon warrant drawn by the secretary of finance and administration
  pursuant to vouchers signed by the secretary of economic development
  or his authorized representative to carry out the purposes specified
  in Section 21-19-7 NMSA 1978.
  
  
            B.  There is created in the state treasury the
  "development fund".  Money appropriated to the fund or accruing to
  it through gifts, grants, repayments or bequests shall not be
  transferred to any other fund or be encumbered or disbursed in any
  manner except as provided in this subsection.  Money in the fund
  shall not revert at the end of any fiscal year.  Money in the fund
  shall be administered by the economic development department or its
  successor for the purpose of making low-interest loans to political
  subdivisions of the state so that they can construct or implement
  projects necessary to provide services that will encourage the
  location of industry in the political subdivisions.  The economic
  development department shall coordinate these loans with the local
  government division of the department of finance and administration
  pursuant to the New Mexico Community Assistance Act.  Money in the
  fund shall be expended as provided in Section 21-19-10 NMSA 1978."
  
       Section 3.  TEMPORARY PROVISION--APPROPRIATION OF FUND
  BALANCES.--The economic development department may expend money in
  the development training fund in the 1997 and subsequent fiscal
  years that was appropriated in prior fiscal years to carry out the
  purposes of Section 21-9-7 NMSA 1978.".
  
       3.  Renumber the succeeding section accordingly.
  
       4.  On page 5, line 14, after "1998" insert "and subsequent
  fiscal years".
  
       5.  On page 5, line 21, after the period strike the remainder
  of the line and strike all of lines 22 and 23.
  
       6.  On page 5, between lines 23 and 24, insert the following
  new section:
  
       "Section 5.  EMERGENCY.--It is necessary for the public peace,
  health and safety that this act take effect immediately.".
  
  
                                Respectfully submitted,
  
  
  
                                                                                               
                                                              Max Coll, Chairman
  
  
  Adopted                       Not Adopted                       
            (Chief Clerk)                       (Chief Clerk)
  
                         Date             
  
  The roll call vote was 10  For  1  Against
  Yes:      10
            No:       Bird
            Excused:  Buffett, Garcia, M.H., Marquardt, Picraux, Salazar,
            Watchman
            Absent:   None
  
  
  .116019.1
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