NM Capital Projects May Be Eliminated
New Mexico – A proposal to free up nearly $150 million by canceling thousands of capital improvement projects is heading to the Senate.
The bill cleared the Senate Finance Committee Wednesday night after lawmakers placed more projects on the chopping block.
Most of the new projects added to the cancellation list were initiatives of Gov. Bill Richardson. Those included nearly $6 million for film and media training facilities and almost $7 million for an equestrian center proposed by the governor that has not been built.
Lawmakers propose to use money from the bill to help replenish the state's cash reserves, which have been drained because of recent budget shortfalls.
The capital project bill is SB182.
Copyright 2010 The Associated Press.