SB 185 WATER PROJECT FUND

Sen Roberto "Bobby" Gonzales

Actions: [2] SCC/SCONC/SFC-SCC [3]germane-SCONC [4] DP-SFC

Scheduled: Not Scheduled

 Senate Bill 185 (SB 185) appropriates one hundred fifty million dollars ($150,000,000) to the Water Project Fund.  

 Senate Bill 185 (SB 185) appropriates one hundred fifty million dollars ($150,000,000) from the General Fund (GF) to the Water Project Fund for expenditure for Fiscal Years (FY) 2025 and subsequent FYs for the purpose of the fund.

Any unexpended or unencumbered balance remaining at the end of a FY will not revert to the GF. 
 

 Pursuant to the Water Project Finance Act (Section 72-4A-1 et seq NMSA 1978), NMFA provides administrative support to the sixteen-member Water Trust Board and manages the Water Project Fund on its behalf.  NMFA makes loans and grants for projects recommended by the Water Trust Board and authorized by the legislature including water conservation or recycling, treatment or water reuse projects; flood prevention projects; Endangered Species Act (ESA) collaborative projects; water storage, conveyance or delivery projects; and/or watershed restoration and management projects. The Water Project Fund annually receives nine percent of Senior Severance Tax Bond (“STB”) proceeds as well as a distribution from the Water Trust Fund.  Water Trust Board awards are a combination of grants and loans, based upon the financial capacity of the applicants. 
https://www.nmfinance.com/water-project-fund/


 
 

 SB 185 duplicates HB 201 and relates to HB 148.