The proceeds of the regulatory fee on promotions and of the supervisory fee on closed-circuit television or motion pictures, together with any license fees or other fees authorized pursuant to the Professional Athletic Competition Act, shall be deposited with the state treasurer to the credit of the “athletic commission fund” which is hereby created. Money in the fund is subject to appropriation by the legislature. Expenditures from the athletic commission fund shall only be made on vouchers issued and signed by the person designated by the commission upon warrants drawn by the department of finance and administration in accordance with the budget approved by the department of finance and administration.
History: Laws 1980, ch. 90, § 24; 2005, ch. 346, § 2.
ANNOTATIONS
Delayed repeal. — For delayed repeal of this section, see 60-2A-30 NMSA 1978.
The 2005 amendment, effective June 17, 2005, changed “privilege tax” to “regulatory fee” and provided that money in the fund is subject to appropriation by the legislature.