46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO TELECOMMUNICATIONS; ENACTING A NEW SECTION OF THE NEW MEXICO TELECOMMUNICATIONS ACT TO CREATE A PERFORMANCE ASSURANCE PLAN FUND; MAKING AN APPROPRIATION.

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

Section 1. A new section of the New Mexico Telecommunications Act is enacted to read:

"[NEW MATERIAL] PERFORMANCE ASSURANCE PLAN FUND--CREATED--APPROPRIATION.--

A. The "performance assurance plan fund" is created in the state treasury. The fund shall be administered by the commission. The fund shall consist of payments made by a telecommunications company to the state pursuant to the terms of a performance assurance plan. Earnings to the fund shall be credited to the fund and the fund shall not revert at the end of any fiscal year. The fund is appropriated to the commission for the purpose of administering, auditing and overseeing the performance assurance plan.

B. As used in this section, "performance assurance plan" means a commission-approved, self-executing remedy plan to ensure that a telecommunications company provides adequate wholesale service to competitors after the company gains entry into the interlocal access transport area long-distance market in its region pursuant to 47 USCA 271."