Bill > HB168

This bill requires the Construction Industries Commission (CIC) and Trade Bureaus to conduct cost studies for proposed rules or recommendations that could impact the costs of commercial or residential construction. Specifically, each Trade Bureau must produce a cost study for its recommended minimum standards or specifications that might affect construction costs, and submit these studies to the CIC and the Construction Industries Division. If a Trade Bureau has not done a cost study, the CIC must complete one. The cost studies must estimate the anticipated change in construction costs for proposed rule or code changes. Starting July 1, 2025, the CIC and Division must consider these cost studies before approving Trade Bureau recommendations or proposed rules that could affect construction costs. Before adopting, amending, or repealing a rule, the CIC or Division must make the cost study available to the public for review and comment, in accordance with the State Rules Act. This bill aims to provide transparency and economic impact analysis for construction-related regulations by requiring detailed cost assessments before implementation.

Government Affairs

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=168&year=25