A. The "acequia and community ditch infrastructure fund" is created in the state treasury and shall be administered by the interstate stream commission. The fund consists of money transferred from the New Mexico irrigation works construction fund and interest accruing to the fund. Disbursements from the fund shall be made 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. Any unexpended or unencumbered balance remaining in the fund at the end of any fiscal year shall revert to the New Mexico irrigation works construction fund.

B. Money in the fund is appropriated to the interstate stream commission to provide funding for the planning, engineering design or construction of irrigation works of acequias or community ditches, including dams, reservoirs, diversions, ditches, flumes or other appurtenances, for the purposes of restoration, repair, improvement of irrigation efficiency or protection from floods.

C. The interstate stream commission shall:

(1) in consultation with the acequia commission and the New Mexico acequia association, develop guidelines and criteria for program eligibility, applications and selection requirements;

(2) prioritize the provision of funding based on project readiness;

(3) review acequia or community ditch plans and specifications and inspect completed projects; and

(4) report biannually to the acequia commission on the progress of projects funded through the fund and the expenditure of money from the fund.

D. As used in this section, "fund" means the acequia and community ditch infrastructure fund.

History: Laws 2019, ch. 169, § 1.

Effective dates. — Laws 2019, ch. 169, § 3 made Laws 2019, ch. 169 effective July 1, 2020.