HOUSE BUSINESS AND INDUSTRY COMMITTEE SUBSTITUTE FOR

HOUSE BILL 1321

48th legislature - STATE OF NEW MEXICO - first session, 2007

AN ACT

RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; PROVIDING FOR AN INVESTIGATION AND ACCOUNTING OF THE ACTIVITIES AND ASSETS OF THE REGIONAL HOUSING AUTHORITIES; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.

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

     Section 1. INVESTIGATION AND ACCOUNTING--REGIONAL HOUSING AUTHORITIES--APPROPRIATIONS.--

          A. During calendar year 2007, the legislative finance committee and the state auditor shall conduct an investigation and accounting of the activities and assets of those regional housing authorities not ranked as "high-performing" by the United States department of housing and urban development. As part of the investigation and accounting, the legislative finance committee:

                (1) shall determine the total money received by the regional housing authorities and the sources of the money received;

                (2) shall determine the amounts expended by the regional housing authorities and the recipients and purposes of the expenditures;

                (3) shall determine the number of housing units actually constructed or purchased pursuant to projects funded by the regional housing authorities and how many of the housing units were for the benefit of low-income individuals;

                (4) shall determine the salaries and other payments made to employees and members of the boards of commissioners of the regional housing authorities and payments to any relatives of, or any business entities owned by, employees or board members;

                (5) shall account for the assets acquired and disposed of by the regional housing authorities;

                (6) shall identify the existing debts of the regional housing authorities and determine the likelihood that the debts will be repaid;

                (7) may use its subpoena power to compel the attendance of witnesses and the production of documents;

                (8) may administer oaths to witnesses; and

                (9) shall report its findings and recommendations to the governor and to the legislature no later than December 15, 2007.

          B. In addition to the staff of the legislative finance committee, the state auditor shall assist and advise the committee in conducting the investigation and accounting.

          C. One hundred thousand dollars ($100,000) is appropriated from the general fund to the legislative finance committee for expenditure in fiscal years 2007 and 2008 for the purpose of carrying out the provisions of this section. Any unexpended or unencumbered balance remaining at the end of fiscal year 2008 shall revert to the general fund.

          D. Two hundred thousand dollars ($200,000) is appropriated from the general fund to the office of the state auditor for expenditure in fiscal years 2007 and 2008 for the purpose of carrying out the provisions of this section. Any unexpended or unencumbered balance remaining at the end of fiscal year 2008 shall revert to the general fund.

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

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