Bill > SB227

This bill creates a new section of New Mexico state law that formally defines the composition of the state's financial reserves. Specifically, the bill establishes five distinct reserve funds: the appropriation contingency fund, the general fund operating reserve, the government results and opportunity expendable trust, the state-support reserve fund, and the tax stabilization reserve. By codifying these reserve funds into law, the bill provides a clear statutory framework for how the state manages and maintains its financial reserves, which can be used for various purposes such as addressing budget shortfalls, managing fiscal uncertainties, and ensuring financial stability during economic fluctuations. The bill does not provide detailed information about the specific funding levels or purposes of each reserve, but instead focuses on officially recognizing and enumerating these financial tools within New Mexico's legal statutes.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=227&year=25