The "General Appropriation Act of 2026" establishes the budgetary framework for state agencies in New Mexico for the fiscal year 2027. It defines key terms such as "agency," "federal funds," and "performance measure," which are essential for understanding the appropriations process. The act appropriates funds from various sources, including the general fund, federal funds, and other state funds, to different state departments and agencies, ensuring that they have the necessary resources to operate effectively. Notably, it stipulates that unexpended balances in agency accounts at the end of fiscal years 2026 and 2027 will revert to the general fund unless otherwise specified.

Additionally, the act includes provisions for monitoring agency revenues and adjusting budgets accordingly if revenue projections are not met. It mandates that appropriations cannot be used for agency-issued credit card payments, with specific exceptions for operational needs. The act also allows for fund transfers from the tobacco settlement permanent fund to ensure that appropriations from the tobacco settlement program fund are fully funded. Overall, the General Appropriation Act of 2026 aims to provide a structured and accountable financial framework for state operations while ensuring compliance with existing laws.