April 8, 1999

The Honorable Raymond G. Sanchez and

Members of the House of Representatives

Executive-Legislative Building

Santa Fe, New Mexico 87503

Honorable Speaker and Members of the House:

I have this day VETOED and am returning HOUSE BILL 257, enacted by the Forty-Fourth Legislature, First Session, 1999.

This legislation would apply the Public Employees Retirement Act to employees of the New Mexico Finance Authority. This may have the effect of transforming the NMFA from an independent agency to one more characteristic of a state agency, which could impact its autonomy and current independence from state government in general.

Sincerely,

Gary E. Johnson

Governor