Bill > HB505

This bill makes a variety of appropriations from the general fund and other state funds for capital outlay projects across New Mexico. Key provisions include: - Appropriating funds for capital projects for state agencies, universities, local governments, and tribal entities, covering areas like infrastructure, public facilities, transportation, water systems, and emergency response. - Establishing conditions for the reversion of unexpended balances, limiting the use of funds for indirect project costs, and requiring approval before entering into binding agreements. - Authorizing the issuance of severance tax bonds and supplemental severance tax bonds to fund various projects and allocate proceeds to specific funds. - Allowing appropriations to be spent on portions of specified project purposes if the full amount is insufficient. - Including one percent of appropriations for the art in public places fund where applicable. The bill covers a wide range of capital needs statewide, from upgrading state facilities and equipment to improving local infrastructure and community assets. The appropriations are intended to support economic development, public services, and quality of life across New Mexico.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=505&year=23