A. The "government results and opportunity expendable trust" is created as a nonreverting fund in the state treasury. The trust shall consist of distributions, appropriations, gifts, grants and donations. Income from investment of the trust shall be credited to the trust. Money in the trust shall be expended only as provided in this section. B. Beginning July 1, 2025 and July 1 of each year thereafter, a distribution shall be made from the government results and opportunity expendable trust to the government results and opportunity program fund in an amount equal to twenty-five percent of the balance of the trust or one hundred million dollars ($100,000,000), whichever is greater; provided that if the balance of the trust is less than one hundred million dollars ($100,000,000), the balance of the trust shall be distributed. For fiscal year 2025, any unexpended or unencumbered balance remaining after the distribution is made in that fiscal year shall be included in the calculation of state reserves. C. In addition to the distribution pursuant to Subsection B of this section, money in the government results and opportunity expendable trust may be expended in the event that general fund balances, including all authorized revenues and transfers to the general fund and balances in the general fund operating reserve, will not meet the level of appropriations authorized from the general fund for a fiscal year. In that event, the legislature may appropriate from the government results and opportunity expendable trust to the general fund only in the amount necessary to meet general fund appropriations for that fiscal year and only if the legislature has authorized a transfer from the general fund operating reserve that exhausts that fund balance. History: Laws 2024, ch. 18, § 1. Effective dates. — Laws 2024, ch. 18 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 15, 2024, 90 days after adjournment of the legislature. Temporary provisions. — Laws 2024, ch. 18, § 4 provided that during the 2024 legislative interim, the staff of the legislative finance committee and the state budget division of the department of finance and administration shall meet regularly to examine and analyze the provisions of the Accountability in Government Act [Chapter 6, Article 3A NMSA 1978] to determine if changes to that act could be made to ensure more cost-effective and responsive government services. On or before December 15, 2024, the staff shall report their findings and make recommendations for legislative changes if any are found to be necessary to the legislative finance committee.
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