NM SB215

Requires political subdivisions to deposit program income earned from state disaster loans (authorized under Laws 2023, Chapter 2 and Laws 2024 1st Special Session) into the Natural Disaster Revolving Fund

Defines "program income" to include fees for services, rental income from property acquired with loan funds, sale of commodities, license fees, royalties on patents/copyrights, and interest earned

Removes the provision that required unexpended balances exceeding $50 million to revert to the appropriation contingency fund at fiscal year end

Amends Section 6-4-2.7 NMSA 1978 governing the Natural Disaster Revolving Fund, which provides loans to political subdivisions and electric cooperatives approved for FEMA funding

Declared an emergency measure requiring immediate effect upon passage for public peace, health, and safety