HOUSE BILL 403

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Ray Begaye

AN ACT

RELATING TO PUBLIC FINANCE; REQUIRING THAT CHAPTERS OF THE NAVAJO NATION BE CERTIFIED AND THAT NONPROFIT ENTITIES BE CHARTERED AND REGISTERED TO APPLY FOR AND IMPLEMENT CAPITAL IMPROVEMENT PROJECTS THROUGH A FISCAL AGENT.

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

     SECTION 1. Section 6-28-2 NMSA 1978 (being Laws 2006, Chapter 105, Section 2) is amended to read:

     "6-28-2. FISCAL AGENTS FOR NAVAJO NATION PROJECTS.--The state recognizes [the] chapters of the Navajo Nation that have been certified pursuant to the Navajo Nation Local Government Act codified under Title 26 of the Navajo Nation Code as local tribal entities having the capability and capacity to apply for and implement capital improvement projects. The state also recognizes [as local tribal entities those] New Mexico nonprofit entities [organized under the supervision of tribal governments] chartered by the Navajo Nation business regulatory commission, registered with the public regulation commission and whose mission or objective is to provide education, health, welfare and other basic services [and who may] as local tribal entities that have the capability and capacity to apply for and implement and act as a fiscal agent for capital improvement projects. Therefore, the state may contract through a political subdivision of the state or a school board having local education authority as a fiscal agent [other than the Navajo Nation] for the expenditure of state funds on behalf of local subgoverning tribal entities of the Navajo Nation. [Unless otherwise negotiated, an administrative fee of no more than five percent of a project's cost may be charged by the entity that serves as fiscal agent.]"

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2011.

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