SENATE BILL 90

53rd legislature - STATE OF NEW MEXICO - second session, 2018

INTRODUCED BY

Linda M. Lopez

AN ACT

RELATING TO FINANCIAL SERVICES; DEFINING PROHIBITED CONTRIBUTIONS BY FINANCIAL SERVICE VENDORS TO INCLUDE CONTRIBUTIONS TO A CAMPAIGN OR POLITICAL COMMITTEE ASSOCIATED WITH A RECIPIENT TO WHOM CONTRIBUTIONS ARE OTHERWISE PROHIBITED.

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

     SECTION 1. Section 10-16-13.3 NMSA 1978 (being Laws 2007, Chapter 362, Section 11, as amended) is amended to read:

     "10-16-13.3. PROHIBITED CONTRIBUTIONS--FINANCIAL SERVICE CONTRACTORS.--

          A. A business that contracts with a state agency or local government agency to provide financial services involving the investment of public money or issuance of bonds for public projects shall not knowingly contribute anything of value to a public officer or employee of that state agency or local government agency who has authority over the investment of public money or issuance of bonds, the revenue of which is used for public projects in the state.

          B. A public officer or employee of a state agency or local government agency that has authority over the investment of public money or issuance of bonds, the revenue of which is used for public projects in the state, shall not knowingly accept a contribution of anything of value from a business that contracts with that state agency or local government agency to provide financial services involving the investment of public money or issuance of bonds for public projects.

          C. For the purposes of this section:

                (1) "anything of value" means any money, property, service, loan or promise, but does not include food and refreshments with a value of less than one hundred dollars ($100) consumed in a day; and

                (2) "contribution" means a donation or transfer to a recipient for the [personal] use of the recipient, or to a campaign or political committee subject to the Campaign Reporting Act with which the recipient is associated, without commensurate consideration."

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