FORTY-EIGHTH LEGISLATURE

FIRST SESSION, 2007

February 26, 2007

Mr. Speaker:

    Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom has been referred

HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR

HOUSE BILL 140

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 12, strike lines 13 through 19 in their entirety and insert in lieu thereof the following new subsection:

          "B. Unless otherwise approved by the program administrator pursuant to the provisions of Subsection D of this section, account owners qualifying as eligible individuals pursuant to the provisions of Subsection B or C of Section 58-30-4 NMSA 1978 shall not be permitted to withdraw money from an individual development account until such time as the account owners have completed a high school curriculum at a public or accredited private New Mexico high school or received a general educational development certificate.".