New Mexico Statutes 19-1-11. State lands maintenance fund; created; state lands income; disposition; state trust lands restoration and remediation fund created
A. Ninety-nine percent of the income derived from any state lands granted or confirmed by the Enabling Act or otherwise under the management, care, custody and control of the commissioner of public lands shall constitute a fund to be known as the “state lands maintenance fund”; provided that the state lands maintenance fund shall not include any money required to be transferred to any permanent fund created in N.M. Stat. Ann. Chapter 19.
Terms Used In New Mexico Statutes 19-1-11
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
B. The “state trust lands restoration and remediation fund” is created in the state treasury. One percent of the income derived from any state trust lands granted or confirmed by the Enabling Act or otherwise under the management, care, custody and control of the commissioner of public lands shall be deposited in the state trust lands restoration and remediation fund; provided that the state trust lands restoration and remediation fund shall not include any money required to be transferred to any permanent fund created in N.M. Stat. Ann. Chapter 19. The state trust lands restoration and remediation fund also consists of income from investment of the fund and money otherwise accruing to the fund. Money in the state trust lands restoration and remediation fund that exceeds five million dollars ($5,000,000) shall be distributed to the trust beneficiaries in the same manner that surpluses in the state lands maintenance fund are distributed. Money in the fund shall not revert to any other fund at the end of a fiscal year. The state land office shall administer the fund. Subject to legislative appropriation, expenditures may be made from the state trust lands restoration and remediation fund upon vouchers signed by the commissioner or the commissioner’s authorized representative and issued by the secretary of finance and administration to administer contractual surface damage and watershed restoration and remediation projects on state trust lands.
C. For any expenditure made from the state trust lands restoration and remediation fund, the commissioner shall attempt to recover the costs of remediation projects from any person who may otherwise bear liability for that remediation project under the Voluntary Remediation Act [N.M. Stat. Ann. Chapter 74, Article 4G], the New Mexico Mining Act [N.M. Stat. Ann. Chapter 69, Article 36], the Surface Mining Act [N.M. Stat. Ann. Chapter 69, Article 25A], the Oil and Gas Act [N.M. Stat. Ann. Chapter 70, Article 2], the Water Quality Act [N.M. Stat. Ann. Chapter 74, Article 6], the Solid Waste Act [74-9-1 N.M. Stat. Ann.] or the Hazardous Waste Act [N.M. Stat. Ann. Chapter 74, Article 4].