Bill > HB165

This bill creates a four-year Biennial Budget Pilot Project to determine the efficacy of biennial budgeting for the state of New Mexico. The pilot project will involve the Department of Finance and Administration, the Legislative Finance Committee, the Regulation and Licensing Department, and small executive agencies with annual budgets under $5 million. The project will adjust certain budget-related statutory requirements for the participating agencies to accommodate the biennial budgeting process, such as submitting biennial budget forms and requesting supplemental or deficiency appropriations on a biennial schedule. The evaluation team, composed of staff from the Department and Committee, will collect baseline data on the participating agencies' budget processes and track changes due to the implementation of biennial budgeting. The team will also report annually and submit a final recommendation to the legislature and governor on whether to continue or expand the biennial budgeting approach.

Budget and Finance, Government Affairs

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=165&year=21