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.
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.
History: Laws 2017, ch. 11, § 2; 2017, ch. 118, § 2; 2018, ch. 26, § 2.
Delayed repeals. — For delayed repeal of this section, see 75-11-3 NMSA 1978.
The 2018 amendment, effective February 28, 2018, authorized the Carlsbad brine well remediation authority to use funds from the Carlsbad brine well remediation fund to remediate the Carlsbad brine well or to acquire property adjacent to the Carlsbad brine well for its remediation; in Subsection A, deleted "There is created", after "remediation fund'", added "is created in the state treasury", after "shall be used by the", deleted "oil conservation division of the energy, minerals and natural resources department" and added "Carlsbad brine well remediation authority", and after "remediate the Carlsbad brine well", added "or to acquire property adjacent to the Carlsbad brine well as required for its remediation".