State of New Mexico
                      House of Representatives
  
                      FORTY-THIRD LEGISLATURE
                        FIRST SESSION, 1997
  
  
                                                    March 4, 1997
  
  
  Mr. Speaker:
  
       Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom
  has been referred
  
                        HOUSE BILL 596
                               
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 1, line 11, strike "MAKING AN APPROPRIATION" and
  insert in lieu thereof "AUTHORIZING THE ISSUANCE OF SEVERANCE TAX
  BONDS AND MAKING APPROPRIATIONS".
  
       2.  On page 1, between lines 14 and 15, insert the following
  new section:
  
       "Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--
  APPROPRIATION OF PROCEEDS.--The state board of finance may issue and
  sell severance tax bonds in compliance with the Severance Tax
  Bonding Act in an amount not exceeding seven million seven hundred
  thousand dollars ($7,700,000) when the property control division of
  the general services department certifies the need for the issuance
  of the bonds.  The state board of finance shall schedule the
  issuance and sale of the bonds in the most expeditious and
  economical manner possible upon a finding by the board that the
  project has been developed sufficiently to justify the issuance and
  that the project can proceed to contract within a reasonable time. 
  The state board of finance shall further take the appropriate steps
  necessary to comply with the Internal Revenue Code of 1986, as
  amended.  The proceeds from the sale of the bonds are appropriated
  to the capital program fund to plan, design, construct, equip and
  furnish a one-hundred bed care, rehabilitation and treatment
  facility for male adjudicated delinquents committed to the children,
  youth and families department in the middle Rio Grande corridor. 
  Any unexpended or unencumbered balance remaining at the end of
  fiscal year 2000 shall revert to the severance tax bonding fund.  If
  the property control division has not certified the need for the
  issuance of the bonds by the end of fiscal year 1999, the
  authorization provided in this section shall be void.".
  
       3.  Renumber the succeeding sections accordingly.
  
       4.  On page 1, lines 15 and 16, strike "Three million nine
  hundred thousand dollars ($3,900,000)" and insert in lieu thereof
  "Four million four hundred thousand dollars ($4,400,000)".
  
       5.  On page 1, line 19, strike "three" and insert in lieu
  thereof "two".
  
       6.  On page 1, line 21, delete the comma.
  
       7.  On page 1, line 21, after "school" insert "and the".
  
       8.  On page 1, line 21, after "center" strike the remainder of
  the line and strike line 22 up to the period.
  
                                Respectfully submitted,
  
  
  
                                                                                               
                                                              Max Coll, Chairman
  
  
  Adopted                       Not Adopted                       
            (Chief Clerk)                       (Chief Clerk)
  
                         Date             
  
  The roll call vote was  9  For  0  Against
  Yes:      9
            Excused:  Abeyta, Garcia, M.H., Heaton, Knowles, Marquardt,
            Picraux, Taylor, J.P., Watchman
            Absent:   None
  
  
  .117834.1
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