New Mexico Appendix: 2026 Undesignated Legislative Enactments § *-*-*. Project scope;  expenditures;  reversion

A. If an appropriation for a project authorized in the 2026 Capital Projects General Obligation Bond Act is not sufficient to complete all the purposes specified, the appropriation may be expended for any portion of the purposes specified in the appropriation.  Expenditures shall not be made for purposes other than those specified in the appropriation.

B. The state agencies and state institutions to which money has been appropriated in the 2026 Capital Projects General Obligation Bond Act shall be responsible for monitoring the projects funded in that act to ensure compliance with the constitution and laws of New Mexico and, if applicable, the federal Internal Revenue Code of 1986, as amended, and shall cause to be reverted any unexpended balance remaining at the earlier of the third full fiscal year after issuance of the bonds or the termination or completion of the specific project.  Reverted funds shall be deposited in the debt service fund established by the state treasurer for the purpose of paying the principal of and interest on the state's general obligation bonds.