46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; CREATING A REGULATION AND LICENSING DEPARTMENT REVOLVING FUND.

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

Section 1. Section 9-16-14 NMSA 1978 (being Laws 1987, Chapter 298, Section 1, as amended) is amended to read:

"9-16-14. REGULATION AND LICENSING DEPARTMENT OPERATING FUND.--

A. There is established in the state treasury the "regulation and licensing department operating fund" to be administered by the department.

[B. All money received by the administrative services division, the construction industries division, the financial institutions division, the securities division and the manufactured housing division, other than money earmarked for revolving funds, shall be deposited with the state treasurer and held in a separate suspense account for each division. In the seventy-sixth fiscal year, all money deposited in the suspense accounts shall be transferred monthly to the general fund until the sum of all money transferred to the general fund equals the total amount deposited and transferred to the general fund from those divisions in the seventy-fourth fiscal year. All additional money deposited in the divisions' suspense accounts during the seventy-sixth fiscal year shall be transferred to the regulation and licensing department operating fund on June 30, 1988.

C. In the seventy-seventh fiscal year and each fiscal year thereafter, on the last day of each month, the department shall transfer all money received during the month from the divisions' suspense accounts to the general fund.] Money in the fund shall be appropriated to the department to carry out the programs, duties or services of the department and its divisions. Disbursements from the fund shall be by warrant of the secretary of finance and administration upon vouchers signed by the superintendent or a designated representative of the superintendent. Money in the fund shall not revert to the general fund at the end of a fiscal year.

B. The following revenues shall be deposited into the fund:

(1) registration fee revenues in excess of thirty-five dollars ($35.00) per license collected from investment advisers and investment adviser representatives pursuant to Section 58-13B-9 NMSA 1978;

(2) fifty dollars ($50.00) of each retailer's license fee collected pursuant to Subsection J of Section 60-6A-15 NMSA 1978;

(3) fifty dollars ($50.00) of each dispenser's license fee collected pursuant to Subsection K of Section 60-6A-15 NMSA 1978;

(4) fifty dollars ($50.00) of each canopy license fee collected pursuant to Subsection L of Section 60-6A-15 NMSA 1978;

(5) fifty dollars ($50.00) of each restaurant license fee collected pursuant to Subsection M of Section 60-6A-15 NMSA 1978;

(6) fifty dollars ($50.00) of each license application fee collected pursuant to Paragraph (1) of Subsection A of Section 60-6B-2 NMSA 1978;

(7) the license and permit fees collected by the construction, industries division pursuant to Sections 60-13-20 and 60-13-45 NMSA 1978 in excess of the amount collected in fiscal year 2003;

(8) the fees collected by the manufactured housing division pursuant to Section 60-14-4 NMSA 1978 in excess of the amount collected in fiscal year 2003;

(9) small loan company license application fees in excess of five hundred dollars ($500) per license collected pursuant to Subsection B of Section 58-15-5 NMSA 1978; and

(10) annual examination fees for small loan companies in excess of two hundred dollars ($200) per license collected pursuant to Subsection A of Section 58-15-9 NMSA 1978."