HOUSE BILL 251

53rd legislature - STATE OF NEW MEXICO - first session, 2017

INTRODUCED BY

Sheryl Williams Stapleton and Tomás E. Salazar

AN ACT

RELATING TO PUBLIC FINANCE; CLARIFYING THAT THE EDUCATIONAL RETIREMENT BOARD, THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION AND THE STATE INVESTMENT COUNCIL MAY PARTICIPATE IN THE LOCAL GOVERNMENT INVESTMENT POOL.

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

     SECTION 1. Section 6-10-1.1 NMSA 1978 (being Laws 1987, Chapter 79, Section 3, as amended) is amended to read:

     "6-10-1.1. DEFINITIONS.--As used in Chapter 6, Article 10 NMSA 1978:

          A. "department" means the department of finance and administration;

          B. "deposit" includes share, share certificate and share draft;

          C. "eligible governing body" means a local governing body, the governing authority of a tribe or any other governmental or quasi-governmental body created or authorized to be created pursuant to New Mexico statutes; "eligible governing body" includes the educational retirement board, the public employees retirement association and the state investment council;

          D. "finance officer" means the chief financial officer of an eligible governing body or a participating government;

          E. "local governing body" means a political subdivision of the state, including a school district or a post-secondary educational institution;

          F. "participating government" means an eligible governing body or the state treasurer on behalf of the general fund that has invested money in the local government investment pool;

          G. "secretary" means the secretary of finance and administration;

          H. "treasury" means the master depository or cash concentration account held at the state's fiscal agent bank and administered by the office of the state treasurer, unless the context otherwise clearly indicates; and

          I. "tribe" means a federally recognized Indian nation, tribe or pueblo or a subdivision or agency of a federally recognized Indian nation, tribe or pueblo, located wholly or partially in New Mexico."

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