This bill amends various sections of New Mexico law to enhance the management and allocation of emergency funding. It renames the "Federal Reimbursement Revolving Fund" to the "Executive Order for Disasters Fund" and establishes a "general fund operating reserve" that can only be accessed with specific legislative authorization during fiscal years when general fund revenues are insufficient. The bill also expands the use of the appropriation contingency fund to cover non-natural disasters, allowing the governor to authorize state agencies to provide necessary resources during such events. Additionally, it introduces a framework for the new "Executive Order for Disasters Fund," which facilitates expenditures during natural disasters or states of martial law and mandates biannual reporting on fund usage.

Furthermore, the bill addresses financial management related to state defense expenditures, requiring the governor to report on expenditures within twenty legislative days. It also facilitates the transfer of funds, including moving the balance of the federal reimbursement revolving fund to the newly named executive order for disasters fund and transferring funds to the appropriation contingency fund. The bill outlines future transfers of up to fifty million dollars from the appropriation contingency fund to the natural disaster revolving fund in 2026 and 2027, and it includes the repeal of certain existing law sections, with specified effective dates for the new provisions.

Statutes affected:
introduced version: 6-4-2.1, 6-4-2.2, 6-4-2.3, 6-4-2.7, 6-4-2.9, 6-4-4, 20-1-6, 6-4-2.8