HOUSE BILL 597
47th legislature - STATE OF NEW MEXICO - second session, 2006
INTRODUCED BY
Luciano “Lucky” Varela
AN ACT
RELATING TO PUBLIC FINANCES; REQUIRING CERTAIN AGENCIES TO VOUCHER THROUGH THE DEPARTMENT OF FINANCE AND ADMINISTRATION; CREATING FUNDS IN THE STATE TREASURY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 16-6-3.1 NMSA 1978 (being Laws 1994, Chapter 143, Section 6) is amended to read:
"16-6-3.1. BUDGET REVIEW REQUIREMENTS--VOUCHERING.--Beginning with [the eighty-third] fiscal year 2007, the state fair commission is [required to] subject to Chapter 6, Article 5 NMSA 1978 and shall submit to the department of finance and administration [for review a monthly budget status report, a list of all checks issued and all supporting documentation for each expenditure] vouchers for all proposed expenditures unless exempted as provided in Section 6-5-9 NMSA 1978."
Section 2. Section 16-6-18 NMSA 1978 (being Laws 1935, Chapter 69, Section 6) is amended to read:
"16-6-18. [Moneys] STATE FAIR FUND--MONEY OF THE NEW MEXICO STATE FAIR.--
A. The "state fair fund" is created in the state treasury, consisting of appropriations, fees, income from investment of the fund and other revenue received by the New Mexico state fair, except revenue that is pledged for the repayment of outstanding bonds that is required to be placed in segregated accounts or funds. Money in the fund at the end of a fiscal year shall not revert to the general fund. The fund shall be administered by the New Mexico state fair, and money in the fund is appropriated to the New Mexico state fair to carry out its purposes and duties. Disbursements from the fund shall be by warrant of the secretary of finance and administration pursuant to vouchers signed by the director of the New Mexico state fair or the director's authorized representative.
[No moneys] B. Money derived from the sale of the bonds or otherwise borrowed by [such institution] the New Mexico state fair under provisions of [this Act] Sections 16-6-13 through 16-6-22 NMSA 1978 shall be [required to be] paid into the state treasury [but shall be deposited by the treasurer or other fiscal officer of the New Mexico state fair in a separate bank account or accounts in such bank or banks or trust company or trust companies as may be designated by the commission and. All deposits of such moneys shall, if required by the commission, be secured by obligations of the United States of America, of a market value equal at all times to the amount of the deposit, and all banks and trust companies are hereby authorized to give such security] to the credit of the state fair fund or a separate state fair bond debt service fund as required by the state treasurer and the secretary of finance and administration. Such money shall be disbursed as may be directed by the commission and in accordance with the terms of any agreements with the [holder or] holders of any bonds. This [section] subsection shall not be construed as limiting the power of the New Mexico state fair to agree in connection with the issuance of any of its bonds as to the custody and disposition of the [moneys] money received from the sale of [such] bonds or the income and revenue of the New Mexico state fair pledged and assigned to or in trust for the benefit of the holder or holders [thereof] of the bonds."
Section 3. A new section of the Public School Insurance Authority Act is enacted to read:
"[NEW MATERIAL] BUDGET REVIEW REQUIREMENTS--VOUCHERING.--Beginning with fiscal year 2007, the authority is subject to Chapter 6, Article 5 NMSA 1978 and shall submit vouchers for all proposed expenditures to the department of finance and administration unless exempted as provided in Section 6-5-9 NMSA 1978."
Section 4. Section 22-29-6 NMSA 1978 (being Laws 1986, Chapter 94, Section 6, as amended) is amended to read:
"22-29-6. FUND CREATED--BUDGET REVIEW--PREMIUMS.--
A. [There is created] The "public school insurance fund" is created in the state treasury. All income earned on the fund shall be credited to the fund. All premiums and other money collected by the authority shall be deposited in the fund. The fund is appropriated to the authority to carry out the provisions of the Public School Insurance Authority Act. Any money remaining in the fund at the end of each fiscal year shall not revert to the general fund.
B. The board shall determine which money in the fund constitutes the long-term reserves of the authority. The state investment officer shall invest the long-term reserves of the authority in accordance with the provisions of Sections 6-8-1 through 6-8-16 NMSA 1978. The state treasurer shall invest the money in the fund that does not constitute the long-term reserves of the fund in accordance with the applicable provisions of Chapter 6, Article 10 NMSA 1978.
C. All appropriations shall be subject to budget review through the department [of education], the state budget division of the department of finance and administration and the legislative finance committee.
D. The authority shall provide that premiums are collected from school districts and charter schools participating in the authority sufficient to provide the required insurance coverage and to pay the expenses of the authority. All premiums shall be credited to the fund.
E. Any reserves remaining at the termination of an insurance contract shall be disbursed to the individual school districts, charter schools and other participating entities on a pro rata basis.
F. Disbursements from the fund [for purposes other than procuring and paying for insurance or insurance-related services, including but not limited to third-party administration, premiums, claims and cost containment activities] shall be made only upon warrant drawn by the secretary of finance and administration pursuant to vouchers signed by the director or [his] the director's designee; provided that the [chairman] chair of the board may sign vouchers if the position of director is vacant."
Section 5. A new section of The Livestock Code is enacted to read:
"[NEW MATERIAL] BUDGET REVIEW REQUIREMENTS--VOUCHERING.--Beginning with fiscal year 2007, the board is subject to Chapter 6, Article 5 NMSA 1978 and shall submit vouchers for all proposed expenditures to the department of finance and administration unless exempted as provided in Section 6-5-9 NMSA 1978."
Section 6. Section 77-2-7.5 NMSA 1978 (being Laws 1905, Chapter 30, Section 1, as amended) is amended to read:
"77-2-7.5. FEES--DISPOSITION.--The fees for recording or researching brands and for furnishing certified copies of the recording or research shall be placed to the credit of the [New Mexico] livestock board [interim receipts and disbursements] fund."
Section 7. Section 77-2-15 NMSA 1978 (being Laws 1937, Chapter 205, Section 2, as amended) is amended to read:
"77-2-15. SPECIAL TAXES--LEVY--COLLECTION.--
A. Each year the board of county commissioners of each county shall at its first meeting after the return of the assessment of the property for taxation by the county assessors of each county, levy a special tax at a rate to be fixed each year by the New Mexico livestock board. Subject to the provisions of Section 7-37-7.1 NMSA 1978, the New Mexico livestock board shall, in each year, order the levy of a tax on livestock at a rate not to exceed ten dollars ($10.00) on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code, of the livestock. The New Mexico livestock board may set different rates for individual classes of livestock.
B. The order imposing the levy of the tax shall be made on or before June 30 in each year and shall be certified to the department of finance and administration by the director. The department of finance and administration shall certify the amount of the levy to the board of county commissioners of each county, and the board of county commissioners shall include the levy in its annual levy of taxes. The special tax shall be collected in each county and paid to the state treasurer in the manner provided by law for the collection and payment of other state taxes. Such funds shall be [remitted to the New Mexico livestock board for deposit] deposited in the [interim receipts and disbursements] livestock board fund."
Section 8. Section 77-2-17 NMSA 1978 (being Laws 1915, Chapter 85, Section 2, as amended) is amended to read:
"77-2-17. PAYMENT OF TAX COLLECTIONS TO STATE TREASURER--DISBURSEMENT.--The special tax provided by Section 77-2-16 NMSA 1978 shall be assessed and collected in every county and paid over to the state treasurer as provided by law for the assessment, collection and payment of other state taxes, and all money so collected and paid over on account of such special tax levies shall be transferred each month to the [board for deposit in the interim receipts and disbursements] livestock board fund and shall be used for fees, salaries, wages, costs and expenses as provided for by laws relating to the powers, duties and expenditures of the board."
Section 9. Section 77-2-21 NMSA 1978 (being Laws 1893, Chapter 67, Section 3, as amended) is amended to read:
"77-2-21. FEES--FUND CREATED.--All fees, [and] charges and other money collected pursuant to the provisions of The Livestock Code shall be paid to the [executive] director [of the board] to be deposited in the "[New Mexico] livestock board [general] fund", hereby created in the state treasury as a nonreverting fund. All fees and charges deposited in the [New Mexico] livestock board [general] fund may be expended in accordance with a budget approved by the department of finance and administration. Money in the fund shall be disbursed by warrant of the secretary of finance and administration pursuant to vouchers signed by the director or the director's authorized representative."
Section 10. TEMPORARY PROVISION--TRANSFER OF MONEY.--As soon as practicable after June 30, 2006, as determined by the secretary of finance and administration and the state treasurer, money held in private financial institutions by the New Mexico state fair, the public school insurance authority and the New Mexico livestock board shall be transferred to the appropriate funds and accounts established in the state treasury for those agencies.
Section 11. REPEAL.--Sections 22-29-8, 77-2-10 and 77-2-25 NMSA 1978 (being Laws 1986, Chapter 94, Section 8, Laws 1973, Chapter 84, Section 1 and Laws 1959, Chapter 291, Section 2, as amended) are repealed.
Section 12. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2006.
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