FIFTY-FOURTH LEGISLATURE

FIRST SESSION, 2019

 

February 2, 2019

 

 

 

Mr. Speaker:

 

    Your ENERGY, ENVIRONMENT AND NATURAL RESOURCES COMMITTEE, to whom has been referred

 

HOUSE BILL 289

 

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

 

     1. On page 1, line 21, strike "pursuant to" and insert in lieu thereof ", in a manner consistent with".

 

     2. On page 1, line 22, after "Act", insert a comma.

 

     3. On page 1, between lines 23 and 24, insert the following new subsection:

 

          "B. Annually, as of June 30 each year, the state investment officer shall advise the council of the ratio of the market value of investments in New Mexico renewable energy to the market value of the severance tax permanent fund. The council shall use that ratio in determining what changes in investments may need to be made, if any, to achieve the investment goal set forth in Subsection A of this section.".

 

     4. Reletter the succeeding subsections accordingly.

 

     5. On page 2, line 4, strike "D" and insert in lieu thereof "E".,

 

and thence referred to the TAXATION & REVENUE COMMITTEE.                         

                             Respectfully submitted,

 

 

 

                                                                 

Matthew McQueen, Chairman

 

 

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

 

Date

 

 

The roll call vote was 8 For 5 Against

Yes:      8

No:       Anderson, Montoya, Scott, Strickler, Townsend

Excused:  None

Absent:   None

 

 

.213221.1

 

 

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