Bill > SB55

This bill creates the "state transit fund" as a nonreverting fund in the state treasury to provide funding to public transit agencies for general public transit operations and infrastructure. The fund consists of appropriations, donations, interest, and other money distributed to it. The Department of Transportation will administer the fund and disburse money to eligible public transit agencies, which can use the funds to match up to 50% of the required federal grant matching funds for their operations and infrastructure. The bill defines "public transit agency" to include tribal entities, municipalities, counties, regional transit districts, and other state or local instrumentalities that provide public transportation services, as well as what constitutes "public transit infrastructure."

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=55&year=23