SENATE FINANCE COMMITTEE SUBSTITUTE FOR

SENATE BILL 723

52nd legislature - STATE OF NEW MEXICO - first session, 2015

AN ACT

RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; CHANGING THE ADMINISTRATIVE FEE FOR CAPITAL PROJECTS AND REMOVING THE GEOGRAPHICAL RESTRICTION OF SANTA FE COUNTY.

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

     SECTION 1. Section 15-3B-10 NMSA 1978 (being Laws 2001, Chapter 319, Section 10) is amended to read:

     "15-3B-10. CAPITAL PROJECTS--ADMINISTRATIVE FEES.--The cost of a capital project shall include an administrative fee to cover the cost of administering the capital project. The fee shall be [one] four percent of the [estimated construction cost] appropriated amount of a capital project [located in Santa Fe county and one and one-half percent for a capital project located outside Santa Fe county]."

.200607.1