Fiscal impact
reports (FIRs) are prepared by the Legislative Finance Committee (LFC) for
standing finance committees of the NM Legislature. The LFC does not assume
responsibility for the accuracy of these reports if they are used for other
purposes.
Current FIRs (in
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Previously issued FIRs and attachments may also be obtained from the LFC
in
|
SPONSOR |
King |
DATE TYPED |
|
HB |
446 |
||
|
SHORT
TITLE |
Insurance Fraud Investigators’ Powers |
SB |
|
||||
|
|
ANALYST |
Garcia |
|||||
APPROPRIATION
|
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
||
|
FY04 |
FY05 |
FY04 |
FY05 |
||
|
|
|
|
(Minimal) |
Recurring |
Insurance
Fraud Fund |
|
|
|
|
|
|
|
(Parenthesis
( ) Indicate Expenditure Decreases)
LFC Files
Responses
Received From
Public
Regulation Commission
SUMMARY
Synopsis of Bill
The bill amends
Section 59A-16C-11 NMSA 1978 to repeal the language excluding insurance fraud
investigators from carrying firearms. The fraud investigators are certified and
commissioned peace officers.
Significant Issues
1) The PRC will have to consider and approve
policies to govern the use of firearms by the investigators.
FISCAL IMPLICATIONS
With the authorization of carrying firearms for
fraud investigators, the purchase of needed equipment will be required.
Approximately $5 thousand for equipment will be needed. Additionally, $1.2
thousand for annual training and range qualifications will be needed. The added
impact will be from the Insurance Fraud Fund, a non-reverting fund. Lastly, the
Insurance Fraud Bureau’s risk management insurance premium is set at the same
rate as other law enforcement agencies.
ADMINISTRATIVE IMPLICATIONS
The Superintendent and
the Insurance Division will need to keep track of the firearms certification of
the investigators. This will likely have minimal administrative impact to the
Division.
POSSIBLE QUESTIONS
How many conflicts have the fraud investigators faced which required a
firearm in order to defend themselves adequately?
DG/njw