Bill > HB201

This bill requires state agencies to conduct a cost assessment for any new rule that imposes a mandate on industry. The assessment must estimate the compliance costs for the affected industry over the first five years. The agency must also develop recommendations for legislation to reduce the industry's compliance costs, such as tax credits or reimbursement grants. Additionally, the agency must conduct a study to assess the impact of the industry's increased costs on New Mexico consumers. The agency must submit the cost assessment, legislative recommendations, and consumer impact study to legislative leadership and the governor within 90 days of adopting the new rule. This requirement applies to rules effective on or after May 25, 2021, and for rules adopted prior to May 18, 2022, the agency must submit the required information within 90 days of the effective date of this 2022 act.

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=201&year=22