February 27, 2003

Madam President:

Your PUBLIC AFFAIRS 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 2, line 15, strike "state treasury" and insert in lieu thereof "New Mexico finance authority".

2. On page 2, line 19, strike "other state funds" and insert in lieu thereof "provided in the New Mexico Finance Authority Act".

3. On page 2, line 21, strike "administer" and insert in lieu thereof "utilize".

4. On page 2, line 22, after the period insert "Administrative costs of the authority may be paid from the fund.".

5. On page 2, line 22, after "fund" insert "for loans to providers".

6. On page 3, line 5, strike "very lowest possible" and insert in lieu thereof "lowest legally permissible".

7. On page 3, between lines 16 and 17, insert the following new subsection:

"D. The department, in conjunction with the New Mexico finance authority, shall adopt rules to administer and implement the Child Care Facility Loan Act. The rules shall become effective when filed in accordance with the State Rules Act.".,

and thence referred to the FINANCE COMMITTEE.

Respectfully submitted,

__________________________________

Dede Feldman, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 6 For 1 Against

Yes: 6

No: Hurt

Excused: Komadina, Sanchez, M.

Absent: None

S0358PA1 .146423.1