44th legislature - STATE OF NEW MEXICO - second session, 2000

REQUESTING THE PUBLIC REGULATION COMMISSION TO STUDY THE POTENTIAL FOR AN INDIGENT AUTO INSURANCE FUND TO BE FINANCED BY TAX-DEDUCTIBLE CONTRIBUTIONS FROM AUTO INSURANCE COMPANIES.

WHEREAS, the law requires New Mexico drivers to have auto insurance; and

WHEREAS, many New Mexicans cannot afford auto insurance; and

WHEREAS, if the state mandates auto insurance, the state should provide a means to prevent further financial devastation of low-income New Mexicans;

NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the public regulation commission be requested to study the potential for an indigent auto insurance fund to be financed by tax-deductible contributions from auto insurance companies; and

BE IT FURTHER RESOLVED that the commission report its findings and recommendations to the legislature by November 2000; and

BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the public regulation commission.