Section 63-9F-12 - Telecommunications access fund; established. - New Mexico Statutes

63-9F-12. Telecommunications access fund; established. 

There is created in the state treasury the "telecommunications access fund".  Money appropriated to the fund or accruing to it through gifts, grants, fees, surcharges, penalties or bequests shall be delivered to the state treasurer for deposit in the fund.  The fund shall be invested as other state funds are invested.  Disbursements from the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the executive director of the commission.  The commission shall administer the fund.  Money in the fund is appropriated to the commission for the purpose of carrying out the provisions of the Telecommunications Access Act.  The commission may request the state budget division of the department of finance and administration to approve the expenditure of funds deposited in the telecommunications access fund for the purpose of defraying salary and other necessary expenses incurred by the commission in the administration of the provisions of the Telecommunications Access Act.  The state budget division may approve the expenditure of not more than ten percent of the amount deposited in the telecommunications access fund during any fiscal year for expenses incurred by the commission in administering that act.  In addition, money in the fund is subject to appropriation by the legislature to the commission for the performance of its duties pursuant to Chapter 28, Article 11B NMSA 1978 and to the signed language interpreting practices fund for the purpose of defraying salary and other necessary expenses incurred by the signed language interpreting practices board.  Any unexpended or unencumbered balance remaining in the fund at the end of any fiscal year shall not revert.