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HB 209: REVERSION OF SPECIAL FUNDS & REVIEW OF FUNDS

An Act Relating To The State Fisc; Requiring Periodic Reversion Of Special Funds To The General Fund; Providing Exceptions; Providing For Review Of Funds And Recommendations To The Legislature Each Year.

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MILD HB 209
REVERSION OF SPECIAL FUNDS & REVIEW OF FUNDS

Legislative URL:
HB 209 on nmlegis.gov
Emergency Clause:
No
Germane:
N/A
Location:
HSCAC
Action:
[3] HSCAC/HJC-HSCAC API.
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
Fiscal Impact Report

Related Events

Upcoming:
Summary

This bill requires that, with some exceptions, at least one-fifth of all special nonreverting funds in the state treasury must revert to the General Fund each year because the Legislature finds that the proliferation of special funds that do not revert to the General Fund is

counterproductive to good government,

 

The State Auditor is required each year to develop a list, including review findings, that includes at least one-fifth of special funds in the state treasury that are not otherwise excepted and that are recommended for reversion, repeal or amendment. The State Auditor must report the recommendations to the LFC and other appropriate legislative interim committees by November 1 of each year.

 

A possible concern regarding this bill is that it might result in the reversion of funds that are important to the ongoing conservation of the state’s land, air and water resources.