HB 246

                                1  HOUSE BILL 246
                                2     57TH LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 2026
                                3  INTRODUCED BY
                                4  Harlan Vincent and Rex Wilson and Mark Duncan
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                                10  AN ACT
                                11   MAKING AN APPROPRIATION TO PROVIDE STATE MATCHING FUNDS TO
                                12   POLITICAL SUBDIVISIONS OF THE STATE THAT HAVE BEEN APPROVED FOR
                                13   FEDERAL ASSISTANCE TO ACQUIRE AND REHABILITATE LAND LOCATED IN
                                14   A FLOODPLAIN BACK TO ITS NATURAL STATE.
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                                16   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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                                17        SECTION 1.     APPROPRIATION.--Sixty-two million dollars
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                                18   ($62,000,000) is appropriated from the general fund to the
                                19   department of finance and administration for expenditure in
                                20   fiscal years 2027 through 2029 to provide state matching funds
                                21   to political subdivisions of the state that have been approved
                                22   for federal assistance to acquire and rehabilitate back to its
                                23   natural state land that is located in a floodplain and that
                                24   poses a threat to life, safety or public infrastructure as a
                                25   result of a natural disaster or continued flood risk.       Any
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                                1    unexpended balance remaining at the end of fiscal year 2029
                                2    shall revert to the general fund.
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