2021 New Mexico Statutes
Article 3 - State Budgets
Section 6-3-25 - Budget adjustment procedure.

A. Except for federal funds, disaster assistance funds and emergency response funds, any budget adjustment request to transfer, decrease or increase funds shall be held in abeyance for ten calendar days after the director of the state budget division of the department of finance and administration has approved the request and has filed the request with the director of the legislative finance committee or his designee. The request shall be accompanied by a statement, in writing, of the conditions under which the budget adjustment request is approved, together with justification for approval.
B. If within ten days the director of the legislative finance committee or his designee objects to the request, the request shall not go into effect until it is reviewed by the legislative finance committee at a public hearing held within thirty-five calendar days of receipt of the proposed budget adjustment by the director of the legislative finance committee or his designee. If the state fiscal year ends prior to the date scheduled for a hearing, the request shall go into effect on the last day of the fiscal year.
C. If within ten days of receipt of a budget adjustment request the director of the legislative finance committee or his designee indicates that no objection will be forthcoming, the proposed budget adjustment request may be implemented immediately. If no public hearing is held within the required thirty-five days, the request may be implemented.
History: 1978 Comp., § 6-3-25, enacted by Laws 1992, ch. 2, § 3; 2000, ch. 30, § 1.
The 2000 amendment, effective May 17, 2000, inserted "disaster assistance funds and emergency response funds" near the beginning of Subsection A, and inserted "of the legislative finance committee or his designee" at the end of the first sentence in Subsection B.

Structure 2021 New Mexico Statutes