SENATE BILL 238

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

INTRODUCED BY

George K. Munoz

AN ACT

RELATING TO PUBLIC FINANCE; CLARIFYING THAT CHAPTERS OF THE NAVAJO NATION AND CERTAIN NONPROFIT ENTITIES MAY APPLY FOR AND IMPLEMENT CAPITAL IMPROVEMENT PROJECTS THROUGH A FISCAL AGENT OTHER THAN THE NAVAJO NATION.

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 as local subgoverning 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, registered with the public regulation commission and whose mission or objective is to provide education and other basic services, [and who may] as local subgoverning 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 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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