Bill > HB2

This bill, the General Appropriation Act of 2023, proposes the following key provisions: This bill makes general appropriations and authorizes expenditures by state agencies as required by law for fiscal year 2024. It defines key terms like "agency," "efficiency," "federal funds," "general fund," and "performance measures." The bill includes provisions for the state to follow the modified accrual basis of accounting and allows the state budget division to monitor revenue and reduce agency operating budgets if necessary. The bill appropriates funds for various state agencies, programs, and services, including the legislative branch, the judicial branch, general state agencies, commerce and industry, agriculture and natural resources, health and human services, public safety, transportation, and education. It also includes special appropriations, supplemental and deficiency appropriations, information technology appropriations, compensation appropriations, special transportation appropriations, and fund transfers. The bill authorizes certain budget adjustment authorities and transfers for agencies in fiscal year 2024. It also provides transfer authority to address potential revenue shortfalls in fiscal years 2023 and 2024. Overall, this bill outlines the state's budget and appropriations for the 2023-2024 fiscal year, funding key government services, programs, and initiatives across New Mexico.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=2&year=23