RELATING TO PUBLIC FINANCE; AMENDING A SECTION OF THE NMSA 1978 PERTAINING TO EXEMPTIONS TO THE BATEMAN ACT.

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

Section 1. Section 6-6-12 NMSA 1978 (being Laws 1968, Chapter 72, Section 8, as amended) is amended to read:

"6-6-12. EXEMPTIONS FROM BATEMAN ACT.--Insurance contracts not exceeding five years, joint projects between two or more local public bodies not exceeding five years, lease-purchase agreements, lease agreements, contracts providing for the operation or provision and operation of a jail by or with another local public body or by an independent contractor entered into by a local public body set out in Section 6-6-11 NMSA 1978 and guaranteed energy savings contracts and installment payment contracts or lease-purchase agreements pursuant to guaranteed energy savings contracts are exempt from the provisions of Section 6-6-11 NMSA 1978, and such contracts, lease-purchase agreements, lease agreements and jail contracts are declared not to constitute the creation of debt."

HB 174

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