February 22, 1999

Mr. President:

Your JUDICIARY COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 5, line 22, strike the comma after "control" and insert a comma after "with".

2. On page 7, line 15, after "facilities" insert "either".

3. On page 7, line 17, before the semicolon, insert "or organized in another state and providing sales of electric power to member cooperatives in this state.".

4. On page 8, line 13, strike the first "to" and insert in lieu thereof "by".

5. On page 9, line 1, strike "electric power" and insert in lieu thereof "bundled".

6. On page 9, line 2, strike "supply".

7. On page 9, line 16, after "utility's" insert

", distribution utility's or municipal utility's.

8. On page 10, line 16, after "rates" insert "or that have been determined by the commission to be prudent, used and useful or otherwise recoverable in rates".

9. On page 13, line 20, insert a period after "1999".

10. On page 13, line 20, strike "and".

11. On page 13, line 21, strike "otherwise, providing" and insert in lieu thereof "After".

12. On page 13, line 21, strike "and may be" and insert in lieu thereof "the plan or approval shall be".

13. On page 13, line 22, before the period insert "on or before November 30, 1999".

14. On page 17, strike Subsection B and reletter the succeeding subsections accordingly.

15. On page 18, line 14, strike "reflects the" and insert in lieu thereof "may reflect the current".

16. On page 20, line 2, strike "four" and insert in lieu thereof "five".

17. On page 20, line 3, after "thereafter" insert:

", provided that the commission may separate nuclear decommissioning for recovery over a longer period of time through a separate wires charge if it determines that such recovery is in the public interest".

18. On page 21, between lines 1 and 2, insert a new subsection:

"F. Nothing in the Electric Utility Industry Restructuring Act of 1999 shall be interpreted to require the commission to make any order involving rates or wires charges that would result in a public utility losing its eligibility:

(1) for accelerated depreciation or other tax benefits for federal income tax purposes; or

(2) to exclusively use external sinking fund methods for decommissioning obligations pursuant to federal guidelines.".

19. On page 27, between lines 18 and 19, insert the following paragraph:

"(4) execute, by a person authorized to do so, an agreement that all electricity sold to a customer in the state shall be delivered to that customer;".

20. Renumber succeeding paragraphs accordingly.

21. On page 28, line 20, strike the period and "A distribution or transmission company is not" and all of lines 21 and 22 and on line 23, strike "shortfalls in supply service".

22. On page 30, between lines 20 and 21, insert:

"(5) is a delinquent taxpayer as to any New Mexico tax;" and renumber the succeeding paragraphs accordingly.

23. On page 31, line 1, strike "or" and insert in lieu thereof "of".

24. On page 31, line 16, after the comma insert "transmission".

25. On page 31, line 16, strike "providing transmission" and on line 17, strike "service".

26. On page 31, line 25, strike "shall,".

27. On page 35, line 6, strike "distribution service".

28. On page 35, lines 14 and 15, strike ", supplying the customer's distribution service" and insert in lieu thereof "or a municipal utility".

29. On page 39, line 21, strike "continue to".

30. On page 39, line 22, strike "remain" and insert in lieu thereof "be".

31. On page 39, line 22, strike "to the same", strike all of line 23 and strike line 24 through the period and insert in lieu thereof "pursuant to the Public Utility Act.".

32. On page 43, line 25, strike "public regulation".

33. On page 50, line 21, strike "generation," and insert in lieu thereof "competitive power suppliers and".

34. On page 53, line 5, strike "of omission" and insert in lieu thereof "or omissions".

35. On page 53, line 8, strike "Section 15" and insert in lieu thereof "Sections 13 and 15".

36. On page 53, line 8, strike "is" and insert in lieu thereof "are".,

and thence referred to the FINANCE COMMITTEE.

Respectfully submitted,

__________________________________

Michael S. Sanchez, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 5 For 1 Against

Yes: 5

No: McSorley

Excused: Davis, Tsosie

Absent: None

S0428JU1 .128058.1/a

.127549.2