Bill > SB143

This bill creates a new Utility Oversight Fund in the state treasury, which will be administered by the Public Regulation Commission and funded through various utility-related fees, including inspection and supervision fees, application fees, and penalties. The bill increases the inspection and supervision fee from 0.506% to 0.590% of a utility's gross receipts and allows the commission to adjust these fees annually until July 1, 2031, with increases limited to the employment cost index for state and local government. The bill changes the distribution of collected fees, redirecting them from the general fund to the new Utility Oversight Fund, and modifies enforcement mechanisms by giving the commission (instead of the attorney general) the authority to collect unpaid fees, interest, and penalties. Additionally, the bill updates fee structures for various utility-related services, such as pipeline licensing and filing fees, and specifies that penalties from certain violations will now be deposited in the utility oversight fund. These changes aim to provide more dedicated funding and oversight for utility regulation in New Mexico.

Budget and Finance, Justice

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=143&year=25