HOUSE BUSINESS AND INDUSTRY COMMITTEE SUBSTITUTE FOR

HOUSE BILL 403

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

AN ACT

RELATING TO PUBLIC FINANCE; REQUIRING THAT CHAPTERS OF THE NAVAJO NATION BE CERTIFIED TO APPLY FOR AND IMPLEMENT CAPITAL IMPROVEMENT PROJECTS.

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 CHAPTER PROJECTS.--The state recognizes [the] chapters of the Navajo Nation that have been certified pursuant to the Navajo Nation Local Governance 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 nonprofit entities organized under the supervision of tribal governments whose mission or objective is to provide education and other basic services and who may apply for and implement capital improvement projects. Therefore, the state may contract through a fiscal agent other than the Navajo Nation for the expenditure of state funds on behalf of local 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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