A. The “transportation project fund” is created in the state treasury. The fund consists of appropriations, donations, interest from investment of the fund and other money distributed to the fund. The department shall administer the fund and may establish subaccounts for the fund as it deems necessary. Money in the fund is appropriated to the department for expenditure as provided in this section. Disbursements from the fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers signed by the secretary of transportation or the secretary’s designee. Money in the fund shall not revert at the end of a fiscal year.

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B. Money in the fund may be used to make a grant to a county, municipality or tribe for a transportation project that has been approved pursuant to Subsection C of this section for up to:

(1)     ninety-five percent of the total cost of a transportation project; provided that the county, municipality or tribe has demonstrated an ability, and has contracted, to provide the remainder of the project costs in non-state money; or

(2)     one hundred percent of the total cost of a transportation project if a financial hardship qualification certificate is issued to the county, municipality or tribe by the department of finance and administration and the level of hardship assistance is approved by the state transportation commission; provided that the county, municipality or tribe has demonstrated an ability, and has contracted, to provide the remainder, if any, of the project costs in non-state money.

C. By August 1 of each year, the secretary shall submit a proposed list to the state transportation commission of transportation projects identified through a transportation planning process by metropolitan planning organizations and regional transportation planning organizations. The commission shall approve a prioritized list of the transportation projects for funding from the fund by September 1 of each year. The commission may approve subsequent changes to a priority list as the commission deems necessary.

D. By November 30 of each year, the department shall provide a report to the appropriate interim legislative committee on the status of the fund, the status of the transportation projects for which grants have been made from the fund and the outstanding demand for assistance from the fund.

E. As used in this section:

(1)     “fund” means the transportation project fund;

(2)     “metropolitan planning organization” means the policy board of an organization designated by the state to carry out a transportation planning process as permitted by federal law pursuant to 23 U.S.C. § 134, as that section may be amended or renumbered;

(3)     “non-state money” means money that does not derive from revenue or interest into the state treasury or into a state fund;

(4)     “regional transportation planning organization” means the policy board of an organization designated by the state to carry out a transportation planning process as permitted by federal law pursuant to 23 U.S.C. § 135, as that section may be amended or renumbered;

(5)     “transportation infrastructure” means highways, streets, roadways, bridges, crossing structures and parking facilities, including all areas for vehicular, transit, bicycle or pedestrian use for travel, ingress, egress and parking;

(6)     “transportation project” means environmental and other studies, planning, design, construction and maintenance of transportation infrastructure, and acquisition of rights of way necessary for the development of transportation infrastructure, in a county, municipality or tribe, but “transportation project” does not mean a transportation beautification project, as determined by the state transportation commission; and

(7)     “tribe” means an Indian nation, tribe or pueblo located wholly or partially in New Mexico.