HOUSE BILL 274

50th legislature - STATE OF NEW MEXICO - second session, 2012

INTRODUCED BY

David L. Doyle

AN ACT

RELATING TO MANUFACTURED HOUSING; CREATING A NONREVERTING FUND FOR FEDERAL HOUSING AND URBAN DEVELOPMENT MONEY RECEIVED BY THE MANUFACTURED HOUSING DIVISION OF THE REGULATION AND LICENSING DEPARTMENT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 9-16-14 NMSA 1978 (being Laws 1987, Chapter 298, Section 1, as amended) is amended to read:

     "9-16-14. REGULATION AND LICENSING DEPARTMENT OPERATING FUND.--

          A. There is established in the state treasury the "regulation and licensing department operating fund" to be administered by the department.

          B. All money received by the administrative services division, the construction industries division, the financial institutions division, the securities division and the manufactured housing division, other than money earmarked for revolving funds and federal housing and urban development funds, shall be deposited with the state treasurer and held in a separate suspense account for each division. [In the seventy-sixth fiscal year] All money deposited in the suspense accounts shall be transferred monthly to the general fund [until the sum of all money transferred to the general fund equals the total amount deposited and transferred to the general fund from those divisions in the seventy-fourth fiscal year. All additional money deposited in the divisions' suspense accounts during the seventy-sixth fiscal year shall be transferred to the regulation and licensing department operating fund on June 30, 1988.

          C. In the seventy-seventh fiscal year and each fiscal year thereafter, on the last day of each month, the department shall transfer all money received during the month from the divisions' suspense accounts to the general fund]."

     SECTION 2. Section 60-14-11 NMSA 1978 (being Laws 1975, Chapter 331, Section 11, as amended) is amended to read:

     "60-14-11. DIVISION FEES--NONREVERTING FUND CREATED.--

          A. The division shall by regulation establish reasonable annual license fees, fees for examinations and inspection and permit fees. Fees shall be set to reflect the actual cost of licensing and regulation, and, in the case of the examination, they shall reflect the actual cost of preparing and administering the examination. All fees shall be paid to the state treasurer for deposit and transfer as provided in Section 9-16-14 NMSA 1978.

          B. The "manufactured housing fund" is created as a nonreverting fund in the state treasury. The fund consists of federal housing and urban development grants, appropriations and distributions and income from investment of the fund. The fund is administered by the division, and money in the fund is appropriated to the division to carry out the purposes of the federal funding. Disbursements from the fund shall be on warrant of the secretary of finance and administration on vouchers signed by the superintendent or the superintendent's authorized representative."

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