44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

MAKING APPROPRIATIONS TO THE PUBLIC REGULATION COMMISSION AND THE ATTORNEY GENERAL FOR A TELECOMMUNICATIONS EARNINGS INVESTIGATION; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. APPROPRIATION.--

A. Three hundred thousand dollars ($300,000) is appropriated from the general fund to the public regulation commission for expenditure in fiscal years 1999 and 2000 for the purpose of paying salaries, expenses and consulting fees of technical and clerical staff engaged in the investigation of the earnings of telecommunications corporations as specified in Subsection C of this section. Any unexpended or unencumbered balance remaining at the end of fiscal year 2000 shall revert to the general fund.

B. One hundred thousand dollars ($100,000) is appropriated from the general fund to the office of the attorney general for expenditure in fiscal years 1999 and 2000 for the purpose of paying salaries and expenses of staff and consultants engaged in the investigation of earnings of telecommunications corporations as specified in Subsection C of this section. Any unexpended or unencumbered balance remaining at the end of fiscal year 2000 shall revert to the general fund.

C. The public regulation commission and the attorney general shall use the appropriations provided by this section to investigate the earnings of telecommunications corporations having more than one hundred thousand local exchange access lines in this state and to investigate the fairness of rates charged customers of local exchange services by such telecommunications corporations. The investigation shall be concluded no later than December 1, 1999. If the public regulation commission finds that a telecommunications corporation has exceeded its allowable earnings for the years following its last rate case, the commission shall provide for the disposition of the over-earnings into rate reductions or refunds to the ratepayers of the telecommunications corporation and into the New Mexico universal service fund. The proportion of the over-earnings that accrue to the New Mexico universal service fund shall be based on criteria to be established by the public regulation commission.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.