New Mexico Statutes Chapter 6. Public Finances § 6-4-38.1. Land of enchantment legacy fund; created; distribution

Current as of January 01, 2024 | Updated by Findlaw Staff

A. The “land of enchantment legacy fund” is created as a nonreverting fund in the state treasury. The fund consists of distributions, appropriations, gifts, grants, donations and bequests made to the fund. The department of finance and administration shall administer the fund, and money in the fund is appropriated to that department to make distributions as provided in this section and for no other purpose. Any interest earned by the land of enchantment legacy fund shall be credited to the fund.

B. On receipt of the distribution made pursuant to Section 6-4-38 NMSA 1978, the department of finance and administration shall distribute the balance of the fund as follows:

(1) twenty-two and one-half percent to the energy, minerals and natural resources department, of which:

(a) fifty percent shall be allocated to the forestry division of the energy, minerals and natural resources department to carry out: 1) projects and programs pursuant to the Forest Conservation Act; 2) forest and watershed management projects; 3) approved projects pursuant to the Forest and Watershed Restoration Act; and 4) projects and programs pursuant to the Prescribed Burning Act; and

(b) fifty percent shall be allocated for projects pursuant to the Natural Heritage Conservation Act;

(2) twenty-two and one-half percent to the board of regents of New Mexico state university for the New Mexico department of agriculture to carry out programs and projects pursuant to the Noxious Weed Management Act, the Healthy Soil Act and the Soil and Water Conservation District Act;

(3) ten percent to the department of environment to plan, design and construct projects to improve surface water quality and river habitat statewide;

(4) fifteen percent to the economic development department, of which:

(a) twenty-five percent shall be allocated to the New Mexico outdoor recreation division of the economic development department to carry out projects under the outdoor equity grant program; and

(b) seventy-five percent shall be allocated to the New Mexico outdoor recreation division for special projects and outdoor recreation infrastructure;

(5) eight percent to the cultural affairs department to carry out projects and programs pursuant to the Cultural Properties Protection Act; and

(6) twenty-two percent to the department of wildlife to carry out projects and programs for the protection and propagation of game and fish.

C. Any unexpended balances from distributions made pursuant to Subsection B of this section shall revert to the conservation legacy permanent fund three fiscal years after the end of the fiscal year in which the distributions were made.

D. Distributions made pursuant to this section shall not be used for the purposes of eminent domain.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 6. Public Finances § 6-4-38.1. Land of enchantment legacy fund; created; distribution - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-6-public-finances/nm-st-sect-6-4-38-1/

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