New Mexico Statutes Chapter 72. Water Law § 72-14-46. Strategic water reserve fund;  created

A. The “strategic water reserve fund” is created in the state treasury.  The fund consists of distributions, appropriations, gifts, grants, donations and income from investment of the fund.  Any unexpended or unencumbered balance remaining in the fund at the end of a fiscal year shall not revert except for balances that exceed fifteen million dollars ($15,000,000), which shall revert to the general fund at the end of the fiscal year.

B. The interstate stream commission shall administer the fund.  Money in the fund is appropriated to the interstate stream commission for the purposes of the strategic water reserve pursuant to Section 72-14-3.3 NMSA 1978;  provided that over any five-year period, no more than twenty-five percent of money expended shall be used for the purpose of aquifer recharge and ground water depletion reduction pursuant to Paragraph (3) of Subsection B of Section 72-14-3.3 NMSA 1978.  Expenditures from the fund shall be by warrant of the secretary of finance and administration pursuant to vouchers signed by the director of the interstate stream commission or the director's authorized representative.