Section 72-1-2.5 - Pecos river basin land management fund.

NM Stat § 72-1-2.5 (2019) (N/A)

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The "Pecos river basin land management fund" is created in the state treasury. The fund shall consist of appropriations, grants, donations or bequests to the fund, income from land and water rights purchased pursuant to Chapter 72, Article 1 NMSA 1978, revenue from land sold pursuant to Chapter 72, Article 1 NMSA 1978 and income from investment of the fund or money otherwise accruing to the fund. Money in the fund shall be invested pursuant to Chapter 6, Article 10 NMSA 1978. The interstate stream commission shall adopt rules for managing the land, for depositing revenues from the land and to administer the fund, and money in the fund is appropriated to the commission to manage the land purchases pursuant to Section 72-1-2.4 NMSA 1978 and to manage augmentation well fields in the lower Pecos river basin. Money in the fund shall not revert to any other fund at the end of a fiscal year. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the director of the interstate stream commission or the director's authorized representative."

History: Laws 2006, ch. 77, § 1; 2008, ch. 22, § 2.

The 2008 amendment, effective February 27, 2008, added income from land and water rights purchases and revenue from land sold pursuant to Chapter 72, Article 1 NMSA 1978 to the fund.

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Section 72-1-2.4 - Pecos river; purpose; conditions for expenditures.

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Section 72-1-2.6 - Pecos river; purchase of additional water rights.