The "renewable energy transmission authority operational fund" is created in the authority. The fund shall consist of money appropriated and transferred to the fund. Earnings from investment of the fund shall be credited to the fund. Money in the fund is appropriated to the authority for the purpose of carrying out the provisions of the New Mexico Renewable Energy Transmission Authority Act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert. The authority is authorized to establish procedures required to administer the fund in accordance with the New Mexico Renewable Energy Transmission Authority Act and state law.
History: Laws 2007, ch. 3, § 13; 2011, ch. 33, § 4.
ANNOTATIONSThe 2011 amendment, effective July 1, 2011, eliminated the requirement that disbursement of funds be made on warrants drawn by the secretary of finance and administration, and authorized the authority to establish procedures to administer the fund.