STATE News:SANTA FE ― Monday, the House Appropriations and Finance Committee passed House Bill 2. The General Appropriations Act of 2019 contains a total recurring appropriations of $7 billion, a 10.8 percent increase over Fiscal Year 19.
“I am very proud of what this committee has been able to do and for passing the budget,” said Chairwoman of House Appropriations and Finance Committee, Rep. Patricia Lundstrom (D-Gallup). “The House Appropriations and Finance Committee touches the life of everyone in New Mexico. At the end of the day this bill funds our core governmental functions. House Bill 2, the budget, is the single most important bill that our legislature passes.”
House Bill 2 has been worked on over the past year. The General Appropriations Act of 2019 increases the General Fund Reserves to $1.6 billion or 22.4 percent of recurring appropriations.
This assumes $700 million for capital projects, $60 million in a supplemental appropriation bill and $150 million to be paid against the film credit backlog. House Bill 2 now heads to the House Chamber floor for a full vote.