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 HTML & Adobe PDF formats) are a vailable on the NM Legislative Website (legis.state.nm.us).

Adobe PDF versions include all attachments, whereas HTML versions may not. Previously issued FIRs and

attachments may be obtained from the LFC in Suite 101 of the State Capitol Building North.

F I S C A L I M P A C T R E P O R T

SPONSOR Ingle

ORIGINAL DATE

LAST UPDATED

1/22/2008

HB

SHORT TITLE Legislative Review of Regulatory Rules

SJR 5

ANALYST Baca

SOURCES OF INFORMATION

LFC Files

SUMMARY

Synopsis of Bill

Senate Joint Resolution proposes to amend the New Mexico State Constitution to require that

"The legislature may, by law, prohibit regulatory rules proposed by an agency or officer of the

executive branch from taking effect until the proposed rules have been reviewed and approved

by the appropriate interim or standing committees of the legislature. The law may establish

procedures for selecting those rules subject to the review and approval of legislative committees;

procedures for designating the appropriate committees to conduct the review and approval; and

procedures to ensure that rules necessary to address emergency situations are not impeded by the

review and approval process."

The amendment proposed by this resolution shall be submitted to the people for their approval or

rejection at the next general election or at any special election prior to that date that may be

called for that purpose.

FISCAL IMPLICATIONS

There appear to be no fiscal impact on the general fund if this amendment is adopted. However,

depending on the nature of the regulations, the general fund may be impacted if the regulations

proposed have revenue generating intent and are delayed by having the legislative review.

LRB/mt