March 1, 2003

Madam President:

Your FINANCE COMMITTEE, to whom has been referred

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

1. On page 14, lines 18 and 19, strike "rural telecommunications" and insert in lieu thereof "local exchange".

2. On page 14, line 19, after "carriers" insert "with less than two hundred thousand access lines".

3. On page 14, line 22, after "carriers" strike the remainder of the line, strike line 23 through "carriers" and insert in lieu thereof "with more than two hundred thousand access lines in New Mexico".

4. On page 14, line 23, after the period insert:

"On November 1, 2003, each incumbent local exchange carrier with more than two hundred thousand access lines in New Mexico shall reduce intrastate switched access charges by fifty percent relative to that carrier's intrastate switched access charges in effect as of January 1, 2003. On November 1, 2004, each incumbent local exchange carrier shall further reduce intrastate switched access charges by up to twenty-five percent relative to that carrier's intrastate switched access charges in effect as of January 1, 2003; provided that the reduction does not result in a monthly surcharge rate exceeding the five percent maximum set forth in Subsection F of Section 63-9H-6.1 NMSA 1978.".

5. On page 14, line 24, strike "incumbent rural".

6. On page 15, line 4, strike "incumbent rural".

7. On page 15, line 16, strike "Incumbent rural telecommunications" and insert in lieu thereof "Telecommunications".

8. On page 15, lines 21 and 22, strike "incumbent rural".

9. On page 15, line 23, strike "the" and insert in lieu thereof "that".

10. On page 15, line 24, after "the" insert "then".

11. On page 16, line 3, after "the" insert "then".

12. On page 17, line 19, strike "incumbent rural".

13. On page 17, line 22, strike "incumbent rural".

14. On page 18, line 1, strike "incumbent rural".

Respectfully submitted,

__________________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 6 For 0 Against

Yes: 6

No: 0

Excused: Carraro, Jennings, Smith, Tsosie

Absent: None

S0629FC1 .146500.1

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