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Legislative Fiscal Control

NMSA 1978 ch. 2, art. 5
in effect

NMSA 1978, § 2-5-1 Legislative finance committee created; terms; vacancies

2-5-1. Legislative finance committee created; terms; vacancies A. There is created a continuing joint interim committee of the legislature to be designated the "legislative finance committee". The committee shall be composed of sixteen members, eight members from the house of representatives and eight members from the senate. The chairmen of the house appropriations and finance and house taxation and revenue committees and the senate finance committee or members of their respective committees designated by each of them from time to time shall be members. The minority party shall be represented on the committee by at least one member from each house. Six of the remaining members shall be appointed from the house of representatives by the speaker, and the seven remaining members shall be appointed from the senate by the committees' committee or, if the appointments are made in the interim, by the president pro tempore after consultation with and agreement of a majority of the members of the committees' committee. An appointed member may designate a member of his party to serve in his place at a committee meeting at which the regular member is going to be absent if the member notifies the chairman of the legislative finance committee of his anticipated absence and his designee at least twenty-four hours before the committee meeting. The appointed members of the committee shall be appointed from each house so as to give the two political parties having the most members in each house the same total proportionate representation on the committee as prevails in that house; provided that in the computation, major fractions shall be counted as whole numbers. Minority members from the house shall be appointed by the speaker only from recommendations made by the minority floor leader, although the speaker shall retain the right to reject any such recommendations. B. Members shall be appointed for terms of two years and shall serve from the time of their appointment until the end of the next session of the legislature. The term of any member shall terminate when the member ceases to be a member of the legislature. C. Vacancies in the committee may be filled for the unexpired term by appointment from the house or senate respectively by the respective appointing authority that makes the original appointments and subject to the same recommendations; provided the new members shall be from the same house of the legislature and the same party from which their predecessors were appointed. The committee shall elect from its membership such other officers as may be deemed necessary. The officers shall be appointed for terms coterminous with their membership on the committee. Each office shall be alternated between the respective houses each two years. For the terms beginning in 1979, the chairman shall be a senate member and the vice chairman, if any, shall be a house member. The appointing authority of each house shall exercise its appointing authority by naming the chairman or vice chairman, respectively, on this alternating basis. D. No action shall be taken by the committee if a majority of the total membership from either house on the committee rejects the action. 1953 Comp., § 2-5-1, enacted by Laws 1957, ch. 3, § 1; 1978, ch. 21, § 12; 1991, ch. 73, § 1.

NMSA 1978, § 2-5-2 Legislative finance committee staff

2-5-2. Legislative finance committee staff The position of "director of the legislative finance committee" is created. The director shall be hired by the legislative finance committee, and shall serve at the pleasure of the legislative finance committee. The director shall be provided with the necessary office space, supplies, equipment and assistants by the legislative finance committee. His salary shall be set by the legislative finance committee. 1953 Comp., § 2-5-2, enacted by Laws 1957, ch. 3, § 2; 1965, ch. 160, § 1.

NMSA 1978, § 2-5-3 Legislative finance committee; duties

2-5-3. Legislative finance committee; duties The committee shall: A. direct the director of the legislative finance committee in his work; B. examine the laws governing the finances and operation of departments, agencies and institutions of New Mexico and all of its political subdivisions, the effect of laws on the proper functioning of these governmental units, the policies and costs of governmental units as related to the laws; C. recommend changes in these laws if any are deemed desirable, and draft and present to the legislature any legislation necessary; D. make a full report of its findings and recommendations for the consideration of each successive legislature following its original establishment, the report and suggested legislation to be available to each member of the legislature on or before the first day of the regular session thereof. 1953 Comp., § 2-5-3, enacted by Laws 1957, ch. 3, § 3; 1963, ch. 241, § 1; 1965, ch. 160, § 2.

NMSA 1978, § 2-5-4 Legislative finance committee; additional duties

2-5-4. Legislative finance committee; additional duties A. The legislative finance committee, in addition to all other duties prescribed by law, shall annually review budgets and appropriations requests, and the operation and management of selected state agencies, departments and institutions and shall make recommendations with respect thereto to the legislature. B. To carry out the purposes of this section, the legislative finance committee shall establish a budget analysis division staffed with persons knowledgeable and proficient in budget analysis and budget preparation. C. Each state agency, department and institution shall furnish to the legislative finance committee a copy of its appropriation request made to the department of finance and administration at the same time such request is made to such department. Each state agency, department or institution shall also furnish to the legislative finance committee and its staff any other supporting information or data deemed necessary to carry out the purposes of this section. D. The legislative finance committee, or, when it deems necessary, its staff may hold such hearings and require such testimony from officers and employees of each state agency, department or institution as is necessary to carry out the purposes of this section. E. Not later than the first week of any regular legislative session, the legislative finance committee shall furnish a document containing its budget recommendations to each member of the senate finance committee, the house appropriations and finance committee and to those other members of the legislature which may request it. A copy shall also be furnished to the governor and to the department of finance and administration. 1953 Comp., § 2-5-3.1, enacted by Laws 1967, ch. 267, § 1.

NMSA 1978, § 2-5-4.1 Legislative systems; coordination with other agencies; fiscal impact information; dynamic forecasting pilot project

2-5-4.1. Legislative systems; coordination with other agencies; fiscal impact information; dynamic forecasting pilot project A. The legislative finance committee shall cooperate with the office of the governor, the department of finance and administration and the taxation and revenue department in designing a timely and accurate system of providing fiscal impact and other pertinent information to the legislature concerning pending legislation. B. Beginning January 1, 2004, a two-year dynamic forecasting pilot project shall be conducted by the legislative finance committee, the department of finance and administration, the taxation and revenue department and the state highway and transportation department in which fiscal impact information provided to the legislature concerning legislation that proposes one or more changes to laws on taxation shall be prepared on the basis of assumptions that estimate the probable behavioral response of taxpayers, businesses and other persons to the proposed changes. This requirement applies only to legislation: (1) introduced during the second session of the forty-sixth legislature and the first session of the forty-seventh legislature; and (2) determined by the legislative finance committee, pursuant to a static fiscal estimate, to have a fiscal impact when fully implemented in excess of ten million dollars ($10,000,000) in a fiscal year. C. The legislative finance committee shall cooperate with the department of finance and administration and other necessary executive agencies to develop the methodology to implement the dynamic forecasting pilot project pursuant to the requirements of Subsection B of this section. D. Following the first session of the forty-seventh legislature, the legislative finance committee shall evaluate the success of the dynamic forecasting pilot project required by Subsection B of this section and determine if dynamic forecasting should become a permanent feature of fiscal impact analyses. In making this determination, the legislative finance committee shall consider if this process: (1) provides a reliable and reasonably accurate analytic tool to aid legislators in determining the effect of proposed legislation; (2) can be accomplished with a reasonable amount of resources; and (3) can be incorporated into fiscal impact estimates in a form that is easily understood and usable. 1978 Comp., § 2-5-4.1, enacted by Laws 1979, ch. 229, § 1; 2003, ch. 73, § 1.

NMSA 1978, § 2-5-5 Legislative finance committee; powers

2-5-5. Legislative finance committee; powers The committee shall have the power to conduct hearings and to administer oaths. The committee or any subcommittee thereof consisting of three members or more shall have the power to subpoena, which may be enforced through any district court of the state. Process of such committee shall be served by any sheriff or any member of the New Mexico state police, and shall be served without cost to the committee. 1953 Comp., § 2-5-4, enacted by Laws 1957, ch. 3, § 4.

NMSA 1978, § 2-5-7 Cooperation

2-5-7. Cooperation Each agency or institution of the state and its political subdivisions shall, upon request, furnish and make available to the legislative finance committee such documents, material or information as may be requested by the members of the committee or its director or staff which are not made confidential by law. 1953 Comp., § 2-5-6, enacted by Laws 1957, ch. 3, § 6; 1965, ch. 160, § 3.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18503/index.doFetched: 10/20/2026

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