TRANSFER FROM GENERAL FUND TO OTHER FUNDS

SB 166 amends New Mexico's budget law to redirect excess revenue from the General Fund to specific state trust funds under defined conditions. If General Fund revenue exceeds spending and the combined excess plus the General Fund Operating Reserve reaches 5-8% of prior-year spending, the excess above 5% is distributed to Medicaid, behavioral health, community benefits, education reform, rural health care, and senior dignity funds. If the combined amount equals or exceeds 8%, the excess above 8% goes to the Government Results and Opportunity Trust. The bill also requires the tax stabilization reserve to replenish the General Fund Operating Reserve if it falls below 1% of appropriations.