New Mexico Statutes 75-11-2. Carlsbad brine well remediation fund; created; purpose;
conditions. (Repealed effective July 1, 2026.) A. The “Carlsbad brine well remediation fund” is created in the state treasury. The energy, minerals and natural resources department shall administer the fund. The fund shall be used by the Carlsbad brine well remediation authority to the extent that revenues are available to remediate the Carlsbad brine well or to acquire property adjacent to the Carlsbad brine well as required for its remediation.
Terms Used In New Mexico Statutes 75-11-2
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
B. Money in the fund may consist of federal grants, appropriations, donations, earnings from investment of the fund and other revenue that from time to time may accrue to the fund from other sources for remediation of the Carlsbad brine well.
C. Money in the fund shall be subject to appropriation by the legislature and shall not revert at the end of any fiscal year.
D. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the secretary of energy, minerals and natural resources or the secretary’s authorized representative.