Bill > SB135

This bill amends existing law to limit certain transfers of excess revenue to the General Fund Operating Reserve if the balance of the Tax Stabilization Reserve is greater than 20% of the aggregate recurring appropriations from the General Fund. Specifically, the bill states that if the Tax Stabilization Reserve balance exceeds 20% of the aggregate recurring appropriations, no transfer of excess revenue to the General Fund Operating Reserve will be made. Additionally, the bill maintains the existing provision that allows transfers from the Tax Stabilization Reserve to the General Fund Operating Reserve if the balance in the General Fund Operating Reserve is less than 1% of aggregate General Fund appropriations.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=135&year=22