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.169253.3

HOUSE JOINT MEMORIAL 78

48

TH

LEGISLATURE

- STATE OF NEW MEXICO -

FIRST SESSION

, 2007

INTRODUCED BY

Richard J. Berry

A JOINT MEMORIAL

REQUESTING THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO

STUDY THE VIABILITY OF PROMPT PAYMENT PROVISIONS BEING ADDED TO

THE STATE PROCUREMENT CODE, SIMILAR TO FEDERAL ACQUISITION

REGULATIONS, AND TO REPORT ITS FINDINGS TO THE APPROPRIATE

INTERIM LEGISLATIVE COMMITTEE.

WHEREAS, the federal government has acquisition

regulations that require prompt payment on service and

construction contracts; and

WHEREAS, a system of prompt payment may reduce the overall

cost of public works projects due to increased interest from

available bidders and reduced cost of capital for those

performing work for the state;

NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE

STATE OF NEW MEXICO that the department of finance and

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.169253.3

administration, with cooperation from the general services

department, be requested to study the viability of prompt

payment provisions, similar to federal acquisition regulations,

in state procurement of goods and services so that payment

generally occurs within fourteen days of the date of an

invoice; and

BE IT FURTHER RESOLVED that the department report its

findings and recommendations for legislation to amend the

procurement code by December 2007 to the appropriate interim

legislative committee, as determined by the New Mexico

legislative council, for review; and

BE IT FURTHER RESOLVED that copies of this memorial be

transmitted to the secretaries of finance and administration

and general services.

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