A. The "highway infrastructure fund" is created in the state treasury and shall be administered by the department. The fund shall consist of money from various fees and taxes distributed to the fund. Earnings on investment of the fund shall be credited to the fund. Balances in the fund at the end of any fiscal year shall not revert and shall remain in the fund for the purposes authorized in this section.
B. Money in the fund shall be used solely for acquisition of rights of way or planning, design, engineering, construction or improvement of state highway projects authorized pursuant to the provisions of Laws 1998, Chapter 84, Subsections C through H of Section 1 of Chapter 85 of Laws 1998, Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28, Laws 2020 (1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act and is appropriated to the department for expenditure for those purposes.
C. The taxes and fees required by law to be distributed to the highway infrastructure fund may be pledged for the payment of bonds issued pursuant to Sections 67-3-59.1, 67-3-59.3 and 67-3-59.4 NMSA 1978, Laws 2020 (1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act for the highway projects authorized in the laws specified in Subsection B of this section.
History: Laws 1999 (1st S.S.), ch. 9, § 3; 2003 (1st S.S.), ch. 3, § 23; 2020 (1st S.S.), ch. 3, § 5; 2021, ch. 43, § 2.
The 2021 amendment, effective April 5, 2021, authorized the use of money in the highway infrastructure fund to be used for certain state highway construction, reconstruction and improvement projects; in Subsection B, after "Sections 27 and 28,", added "Laws 2020 (1st S.S.), Chapter 3", after "Section 8", deleted "of this 2020 act" and added "and Section 1 of this 2021 act"; and in Subsection C, after "67-3-59.4 NMSA 1978,", deleted "and" and added "Laws 2020 (1st S.S.), Chapter 3", and after "Section 8", deleted "of this 2020 act" and added "and Section 1 of this 2021 act".
The 2020 (1st S.S.) amendment, effective June 26, 2020, authorized the issuance of state transportation project bonds; in Subsection B, after "Section 1 of Chapter 85 of Laws 1998", deleted "and" and added "Laws 2003 (1st S.S.), Chapter 3", after "Sections 27 and 28", added "and Section 8", and after "of this", deleted "2003" and added "2020"; in Subsection C, after "payment of", deleted "state highway", after "67-3-59.3", added "and 67-3-59.4", after "NMSA 1978 and", deleted "Section 26" and added "Section 8", and after "of this", deleted "2003" and added "2020".
Temporary provisions. — Laws 2020 (1st S.S.), ch. 3, § 11, effective June 26, 2020, provided:
A. Nothing in this act shall be deemed to impair state highway revenue bonds previously issued by the state transportation commission and outstanding on the effective date of this act.
B. If required by the terms, covenants and provisions of state highway revenue bonds previously issued by the state transportation commission and outstanding on the effective date of this act, additional bonds issued by the state transportation commission or the New Mexico finance authority when directed by the state transportation commission pursuant to this act shall contain any required terms, covenants and provisions required to avoid impairment of the previously issued bonds.
The 2003 (1st S.S.) amendment, effective February 3, 2004, deleted "and" preceding "Subsections C" and inserted "and Sections 27 and 28 of this 2003 act" in Subsection B, and substituted "Sections 67-3-59.1 and 67-3-59.3 NMSA 1978 and Section 26 of this 2003 act" for "Section 67-3-59.1 NMSA 1978" in Subsection C.
Structure New Mexico Statutes
Article 3 - State Transportation Commission
Section 67-3-1 - Reimbursement of state transportation commissioners.
Section 67-3-4 - Method and time of appointment of commissioners.
Section 67-3-5 - Removal of commissioners.
Section 67-3-6 - Creation of department of transportation.
Section 67-3-7 - Secretary of transportation; appointment; qualifications; bond.
Section 67-3-8 - Powers and duties of secretary.
Section 67-3-8.3 - Disposition of surplus personal property or materials.
Section 67-3-10 - Meetings; oaths; seal; policy.
Section 67-3-11 - Rule-making power.
Section 67-3-12 - Powers and duties.
Section 67-3-14 - State transportation commission; powers and duties; road funds.
Section 67-3-15 - [Duty to advise towns, villages and counties; highway system for state.]
Section 67-3-16 - [General duty to construct, repair and maintain highways.]
Section 67-3-17 - Snow removal from designated skiing area parking facilities.
Section 67-3-18 - [Skiing area with parking facilities; rejection of snow removal services.]
Section 67-3-19 - Duty to repair and maintain state park roads, bridges and parking areas.
Section 67-3-20 - El Camino Real; supervision and control.
Section 67-3-22 - State transportation commission; annual report.
Section 67-3-23 - Secretary of transportation; appointment.
Section 67-3-24 - Employees; appointment; compensation.
Section 67-3-26 - Duties of secretary; disbursement of state road fund.
Section 67-3-28.2 - Local governments road fund created; uses.
Section 67-3-29 - Department personnel; county and municipal road technical assistance.
Section 67-3-32 - Cooperative agreements; preference.
Section 67-3-34 - Federal aid road project; document execution.
Section 67-3-35 - Auditor; appointment; duties; bond.
Section 67-3-36 - Acquisition of rights of way; duty of county and district attorney.
Section 67-3-38 - Action by state transportation commission.
Section 67-3-39 - Waiver of immunity.
Section 67-3-40 - Control of state highways; maintenance costs.
Section 67-3-42 - Bridges considered part of highway.
Section 67-3-43 - Road work; bid advertising; restrictions; rejection; bond.
Section 67-3-47 - [Contracts for state aid roads; execution; restrictions.]
Section 67-3-49 - Claims of highway contractor's creditors; state highway suspense fund.
Section 67-3-50 - Account closing; nonliability.
Section 67-3-51 - [Restrictions on disbursements from suspense fund.]
Section 67-3-52 - Payment from state highway suspense fund.
Section 67-3-53 - [Reversion of suspense fund balances.]
Section 67-3-55 - Flight strips, airports and access roads; bidding procedures; bond.
Section 67-3-57 - Annual appropriation; purposes.
Section 67-3-58 - Allotment of appropriation.
Section 67-3-59 - [Balances; continuation of appropriation.]
Section 67-3-59.1 - State highway debentures; issuance; limits; approval; coupons.
Section 67-3-59.2 - Highway infrastructure fund created; purpose.
Section 67-3-59.3 - State transportation project bonds; issuance; procedures; approval.
Section 67-3-60 - Bypasses and relocation projects; expenditure of highway funds; purpose.
Section 67-3-61 - Limitation of expenditures of highway funds for construction of highway bypasses.
Section 67-3-62 - Provisions for pedestrian, bicycle and equestrian traffic required.
Section 67-3-64 - Ramps for handicapped required.
Section 67-3-65 - State road fund created.
Section 67-3-65.1 - State road fund distribution.
Section 67-3-68 - Purpose and interpretation.
Section 67-3-69 - Power to state highway and transportation department.
Section 67-3-70 - Use of appropriated funds.
Section 67-3-71.1 - Right-of-way agreements; Navajo Nation; terms.
Section 67-3-72 - Transportation bonds.
Section 67-3-73 - Transportation bonds; terms.
Section 67-3-74 - Refunding bonds.
Section 67-3-75 - Transportation bonds eligible for investment.
Section 67-3-76 - Transportation bonds; exemption from taxation.