0001|                         A JOINT RESOLUTION
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0002| PROPOSING TO AMEND ARTICLE 11 OF THE CONSTITUTION OF NEW MEXICO BY
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0003| ABOLISHING THE STATE CORPORATION COMMISSION AND CREATING A SINGLE
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0004| REGULATORY AGENCY FOR CORPORATIONS, PUBLIC UTILITIES, TRANSPORTATION
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0005| COMPANIES, TRANSMISSION AND PIPELINE COMPANIES, INSURANCE COMPANIES AND
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0006| OTHER PUBLIC SERVICES AS PROVIDED BY LAW.
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0007| 
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0008| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0009|      Section 1.  It is proposed to amend Article 11 of the constitution
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0010| of New Mexico by repealing Sections 1 through 12 and 15 through 17.
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0011|      Section 2.  It is proposed to amend Article 11 of the constitution
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0012| of New Mexico by adding a new Section 1 to read:
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0013|      "The "public regulation commission" is created.  The commission
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0014| shall consist of five members elected from districts provided by law for
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0015| staggered four-year terms beginning on January 1 of the year following
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0016| their election; provided that those chosen at the first general election
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0017| after the adoption of this section shall immediately classify themselves
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0018| by lot, so that two of them shall hold office for two years and three of
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0019| them for four years; and further provided that, after serving two terms,
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0020| members shall be ineligible to hold office as a commission member until
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0021| one full term has intervened.  No commissioner or candidate for the
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0022| commission shall accept anything of value from a person or entity whose
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0023| charges for services to the public are regulated by the commission."
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0024|      Section 3.  It is proposed to amend Article 11 of the constitution
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0025| of New Mexico by adding a new Section 2 to read:
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0001|      "The public regulation commission shall have responsibility for
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0002| chartering and regulating business corporations in such manner as the
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0003| legislature shall provide. The commission shall have responsibility for
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0004| regulating public utilities, including electric, natural gas and water
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0005| companies; transportation companies, including common and contract
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0006| carriers; transmission and pipeline companies, including telephone,
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0007| telegraph and information transmission companies; insurance companies
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0008| and others engaged in risk assumption; and other public service
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0009| companies in such manner as the legislature shall provide."
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0010|      Section 4.  The provisions of Sections 1 and 3 of this amendment
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0011| shall take effect January 1, 1999.
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0012|      Section 5.  The amendment proposed by this resolution shall be
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0013| submitted to the people for their approval or rejection at the next
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0014| general election or at any special election prior to that date which may
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0015| be called for that purpose.
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