New Mexico § 19-1-11 - State lands maintenance fund; created; state lands income; disposition; state trust lands restoration and remediation fund created

§ 19-1-11. State lands maintenance fund; created; state lands income; disposition; state trust lands restoration and remediation fund created

A. Ninety-nine percent of the income derived from any state lands granted or confirmed

by the Enabling Act or otherwise under the management, care, custody and control of

the commissioner of public lands shall constitute a fund to be known as the “state

lands maintenance fund”; provided that the state lands maintenance fund shall not

include any money required to be transferred to any permanent fund created in Chapter 19 NMSA 1978 . B. The “state trust lands restoration and remediation fund” is created in the state

treasury. One percent of the income derived from any state trust lands granted or confirmed

by the Enabling Act or otherwise under the management, care, custody and control of

the commissioner of public lands shall be deposited in the state trust lands restoration

and remediation fund; provided that the state trust lands restoration and remediation

fund shall not include any money required to be transferred to any permanent fund

created in Chapter 19 NMSA 1978 . The state trust lands restoration and remediation fund also consists of income from

investment of the fund and money otherwise accruing to the fund. Money in the state trust lands restoration and remediation fund that exceeds five

million dollars ($5,000,000) shall be distributed to the trust beneficiaries in the

same manner that surpluses in the state lands maintenance fund are distributed. Money in the fund shall not revert to any other fund at the end of a fiscal year. The state land office shall administer the fund. Subject to legislative appropriation, expenditures may be made from the state trust

lands restoration and remediation fund upon vouchers signed by the commissioner or

the commissioner's authorized representative and issued by the secretary of finance

and administration to administer contractual surface damage and watershed restoration

and remediation projects on state trust lands. C. For any expenditure made from the state trust lands restoration and remediation

fund, the commissioner shall attempt to recover the costs of remediation projects

from any person who may otherwise bear liability for that remediation project under

the Voluntary Remediation Act, the New Mexico Mining Act, the Surface Mining Act,

the Oil and Gas Act, the Water Quality Act, the Solid Waste Act or the Hazardous Waste

Act.