Bill > SB195

This bill establishes the "Water Protection Permanent Fund" and the "Water Protection Fund" in the state of New Mexico. The Permanent Fund is a non-reverting fund in the state treasury, funded by various sources including appropriations, gifts, and investment income. The bill requires an annual distribution of $8 million from the Permanent Fund to the Water Protection Fund until the distribution amount is less than 4.7% of the Permanent Fund's 5-year average market value, after which the distribution will be 4.7% of the 5-year average. The Water Protection Fund is administered by the Interstate Stream Commission and is used to fund water infrastructure projects such as the planning, construction, and repair of reservoirs, diversions, and dams across the state. The bill also appropriates $150 million from the general fund to the Permanent Fund and $8 million to the Water Protection Fund for the first fiscal year.

Agriculture and Natural Resources

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=195&year=23