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§ 6-4-3 NMSA 1978

State revenue-sharing trust fund created

Known as the Tobacco Escrow Fund Act

The act spans §§ 6–6 (54 sections).

1953 Comp., § 11-3-7, enacted by Laws 1973, ch. 296, § 1; 1977, ch. 247, § 122.

A. The "state revenue-sharing trust fund" is created. There shall be deposited in the state revenue-sharing trust fund all money allotted to the state government pursuant to the State and Local Fiscal Assistance Act of 1972 as may be amended from time to time.

B. Money deposited in the fund shall be expended only upon appropriation by the legislature and shall be disbursed upon vouchers signed by the secretary of finance and administration.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.