March 19, 2003

Madam President:

Your FINANCE COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 4, between lines 18 and 19, insert the following new subsection:

"F. The provisions of Subsection C of this section shall not apply to a retired member who has been retired for twelve consecutive months and who is subsequently employed by the state in a position exempt from the coverage of the Personnel Act.".

2. Reletter the succeeding subsections accordingly.

Respectfully submitted,

__________________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 6 For 0 Against

Yes: 6

No: 0

Excused: Beffort, Campos, Carraro, Tsosie

Absent: None

H0111FC1 .147664.1