Just found this out. $182,000 of New Mexico money was not matched by Colorado. So the RR doesn't get it.
Does New Mexico love the CATS more than Colorado? Naw, Colorado got in a big budget crunch and New Mexicans are taxed more.
Section 6. RAILROAD PROJECT--CUMBRES AND TOLTEC SCENIC RAILROAD COMMISSION--SEVERANCE TAX BONDS.--Pursuant to the provisions of Section 1 of this act, upon certification by the Cumbres and Toltec scenic railroad commission that the need exists for the issuance of the bonds, four hundred forty-two thousand dollars ($442,000) is appropriated to the Cumbres and Toltec scenic railroad commission for capital improvements, including locomotive boiler work, heat and lighting for the shop area and track upgrade, in Rio Arriba county, contingent upon an equal match of appropriations and grants from the state of Colorado.