A. There is created in the state treasury the "state aviation fund". All income to the state aviation fund is appropriated to the division. Earnings from investment of the fund shall be credited to the fund.
B. The amounts distributed to the state aviation fund pursuant to Subsection C of Section 7-1-6.7 NMSA 1978 shall be used for the air service assistance program, including planning, program administration, construction, equipment, materials and maintenance of a system of airports, navigation aids and related facilities. All other amounts distributed to the state aviation fund, including collections by the division for aircraft registration pursuant to the Aircraft Registration Act [64-4-1 to 64-4-15 NMSA 1978], payments to the division pursuant to Sections 64-1-13 and 64-1-19 NMSA 1978 and reimbursements to the division from federal aviation administration funds or from any other source shall be used for planning and program administration, construction, equipment, materials and maintenance of a system of airports, navigation aids and related facilities. All expenditures shall be made in accordance with budgets approved by the department. Balances in the state aviation fund shall not be transferred and shall not revert to any other fund.
History: 1953 Comp., § 44-1-10.7, enacted by Laws 1963, ch. 314, § 7; 1977, ch. 250, § 18; 1983, ch. 211, § 39; 1989, ch. 158, § 1; 2001, ch. 198, § 2; 2007, ch. 297, § 2; 2007, ch. 298, § 2; 2013, ch. 19, § 2.
ANNOTATIONSCross references. — For the Gasoline Tax Act, see 7-13-1 NMSA 1978 et seq.
The 2013 amendment, effective July 1, 2013, authorized the use of state aviation funds for airports, navigation aids and related facilities; and in Subsection B, in the first sentence, after "air service assistance program", added "including planning, program administration, construction, equipment, materials and maintenance of a system of airports, navigation aids and related facilities".
The 2007 amendment, effective July 1, 2007, provided that earnings from investment of the fund shall be credited to the fund; that amounts distributed to the fund shall used for planning and administration, construction and equipment and maintenance of a system of airports and related facilities; and that balances in the fund shall not be transferred or revert to any other fund.
Laws 2007, ch. 297, § 2 and Laws 2007, ch. 298, § 2 enacted identical amendments to this section.
The 2001 amendment, effective April 3, 2001, added the fifth sentence.
The 1989 amendment, effective June 16, 1989, substituted "planning, construction and maintenance of a system of airports, navigation aids and related facilities serving New Mexico" for "airport construction and maintenance based on need" in the next-to-last sentence.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 8A Am. Jur. 2d Aviation § 48.
2A C.J.S. Aeronautics and Aerospace § 189.