New Mexico Statutes 6-21-6.1. Public project revolving fund; appropriations to other funds
A. At the end of each fiscal year, after all debt service charges, replenishment of reserves and administrative costs on all outstanding bonds, notes or other obligations payable from the public project revolving fund are satisfied, an aggregate amount not to exceed thirty-five percent of the governmental gross receipts tax proceeds distributed to the public project revolving fund in the preceding fiscal year less all debt service charges and administrative costs of the authority paid in the preceding fiscal year on bonds issued pursuant to this section may be appropriated by the legislature from the public project revolving fund to:
Terms Used In New Mexico Statutes 6-21-6.1
- 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.
- Oversight: Committee review of the activities of a Federal agency or program.
(1) the following funds for local infrastructure financing:
(a) the wastewater facility construction loan fund for purposes of the Wastewater Facility Construction Loan Act [N.M. Stat. Ann. Chapter 74, Article 6A];
(b) the rural infrastructure revolving loan fund for purposes of the Rural Infrastructure Act [N.M. Stat. Ann. Chapter 75, Article 1];
(c) the solid waste facility grant fund for purposes of the Solid Waste Act [74- 9-1 NMSA 1978];
(d) the drinking water state revolving loan fund for purposes of the Drinking Water State Revolving Loan Fund Act N.M. Stat. Ann. § 6-21A-1 to 6-21A-9;
(e) the water and wastewater project grant fund for purposes specified in the New Mexico Finance Authority Act; or
(f) the local government planning fund for purposes specified in the New Mexico Finance Authority Act; or
(2) the cultural affairs facilities infrastructure fund.
B. The authority and the department of finance and administration in coordination with the New Mexico finance authority oversight committee may recommend annually to each regular session of the legislature amounts to be appropriated to the funds listed in Subsection A of this section.