Bill > HB7

This bill amends the Apprenticeship Assistance Act by adjusting the annual transfers and appropriations from the Workforce Development and Apprenticeship Trust Fund. Specifically, starting July 1, 2026, and annually thereafter, $2,500,000 will be transferred to the Public Works Apprentice and Training Fund, and another $2,500,000 will be appropriated to the Workforce Solutions Department to support the Apprenticeship Assistance Act. This replaces a previous provision that allocated different amounts for 2024 and 2025, and then a lower amount for subsequent years. The bill also clarifies that the Workforce Development and Apprenticeship Trust Fund can be used to cover general fund deficits if other reserve funds, such as the appropriation contingency fund and the tax stabilization reserve, are exhausted, but it removes language related to the tobacco settlement permanent fund in this context.

Budget and Finance, Military Affairs and Security

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=7&year=26