Section 67-3-59.2 - Highway infrastructure fund created; purposeA. The "highway infrastructure fund" is created in the state treasury and shall be administered by the department. The fund shall consist of money from various fees and taxes distributed to the fund. Earnings on investment of the fund shall be credited to the fund. Balances in the fund at the end of any fiscal year shall not revert and shall remain in the fund for the purposes authorized in this section.B. Money in the fund shall be used solely for acquisition of rights of way or planning, design, engineering, construction or improvement of state highway projects authorized pursuant to the provisions of Laws 1998, Chapter 84, Subsections C through H of Section 1 of Chapter 85 of Laws 1998, Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28, Laws 2020 (1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act and is appropriated to the department for expenditure for those purposes.C. The taxes and fees required by law to be distributed to the highway infrastructure fund may be pledged for the payment of bonds issued pursuant to Sections 67-3-59.1, 67-3-59.3 and 67-3-59.4 NMSA 1978, Laws 2020 (1st S.S.), Chapter 3, Section 8 and Section 1 of this 2021 act for the highway projects authorized in the laws specified in Subsection B of this section.Laws 1999 (1st S.S.), ch. 9, § 3; 2003 (1st S.S.), ch. 3, § 23.Amended by 2021, c. 43,s. 2, eff. 4/5/2021.Amended by 2020SP1, c. 3,s. 5, eff. 6/26/2020.