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+FIFTY-SEVENTH LEGISLATURE
+
+SECOND SESSION, 2026
+
+January 22, 2026
+
+Mr. Speaker:
+
+    Your LABOR, VETERANS & MILITARY AFFAIRS COMMITTEE,
+to whom has been referred
+
 HOUSE BILL 7
-57TH LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 2026
-INTRODUCED BY
-Joy Garratt and Kathleen Cates and Pat Woods
-and Michael Padilla and Christine Chandler
-AN ACT
-RELATING TO WORKFORCE DEVELOPMENT; MAKING ANNUAL TRANSFERS FROM
-THE WORKFORCE DEVELOPMENT AND APPRENTICESHIP TRUST FUND TO THE
-PUBLIC WORKS APPRENTICE AND TRAINING FUND AND ANNUAL
-APPROPRIATIONS TO THE WORKFORCE SOLUTIONS DEPARTMENT TO CARRY
-OUT THE PURPOSES OF THE APPRENTICESHIP ASSISTANCE ACT; MAKING
-APPROPRIATIONS.
-BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
-SECTION 1.  Section 9-26-17 NMSA 1978 (being Laws 2024,
-Chapter 5, Section 1) is amended to read:
-"9-26-17.  WORKFORCE DEVELOPMENT AND APPRENTICESHIP TRUST
-FUND.--
-A.  The "workforce development and apprenticeship
-trust fund" is created within the state treasury.  The fund
-consists of distributions, appropriations, gifts, grants and
-.232971.1
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-donations.  Income from investment of the fund shall be
-credited to the fund.  Money in the fund shall be expended only
-as provided in this section.
-B.  The state investment officer, subject to the
-approval of the state investment council, shall invest money in
-the workforce development and apprenticeship trust fund:
-(1)  in accordance with the prudent investor
-rule set forth in the Uniform Prudent Investor Act; and
-(2)  in consultation with the state treasurer.
-C.  The state investment officer shall report
-quarterly to the legislative finance committee and the state
-investment council on the investments made pursuant to this
-section.  Annually, a report shall be submitted no later than
-November 1 each year to the legislative finance committee, the
-revenue stabilization and tax policy committee and any other
-appropriate interim committees.
-D.  Subject to the availability of funds [(1)] on
-July 1, [2024] 2026 and [July 1, 2025] on July 1 of each year
-thereafter:
-[(a)] (1)  two million five hundred thousand
-dollars ($2,500,000) shall be transferred to the public works
-apprentice and training fund; and
-[(b)] (2)  two million five hundred thousand
-dollars ($2,500,000) shall be appropriated to the workforce
-solutions department to carry out the purposes of the
-.232971.1
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-Apprenticeship Assistance Act.  [and
-(2)  on July 1 of each year thereafter:
-(a)  one million five hundred thousand
-dollars ($1,500,000) shall be transferred to the public works
-apprentice and training fund; and
-(b)  one million five hundred thousand
-dollars ($1,500,000) shall be appropriated to the workforce
-solutions department to carry out the purposes of the
-Apprenticeship Assistance Act.]
-E.  In addition to the transfers and appropriations
-pursuant to Subsection D of this section, money in the
-workforce development and apprenticeship trust fund may be
-expended in the event that general fund balances, including all
-authorized revenues and transfers to the general fund and
-balances in the general fund operating reserve, the
-appropriation contingency fund, [the tobacco settlement
-permanent fund] the state-support reserve fund and the tax
-stabilization reserve, will not meet the level of
-appropriations authorized from the general fund for a fiscal
-year.  In that event, to avoid an unconstitutional deficit, the
-legislature may appropriate from the workforce development and
-apprenticeship trust fund to the general fund only in the
-amount necessary to meet general fund appropriations for that
-fiscal year and only if the legislature has authorized
-transfers from the appropriation contingency fund, the general
-.232971.1
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-fund operating reserve and the tax stabilization reserve [and
-the tobacco settlement permanent fund] that exhaust those fund
-balances."
-- 4 -
-.232971.1
+
+has had it under consideration and reports same with
+recommendation that it DO PASS, and thence referred to the
+APPROPRIATIONS & FINANCE COMMITTEE.
+
+                             Respectfully submitted,
+
+Patricia Roybal Caballero, Chair
+
+Adopted                            Not Adopted
+
+           (Chief Clerk)                            (Chief Clerk)
+
+Date
+
+The roll call vote was  10  For  0  Against
+
+Yes:      Anaya, García, MP, Hall II, Johnson, Mejia, Ortez, Reeb,
+Roybal Caballero, Terrazas, Torres-Velásquez
+
+No:       0
+
+Excused:  Chávez, E
+
+Absent:   None
+
+HB0007LV1.wpd