FORTY-EIGHTH LEGISLATURE

FIRST SESSION, 2007

March 10, 2007

Mr. Speaker:

    Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom has been referred

SENATE BILL 680

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

     1. On page 1, line 13, after "2" insert "; REQUIRING DISCLOSURE; PROVIDING A TIME PERIOD FOR CERTAIN MEMBERS TO BECOME ELIGIBLE FOR STATE LEGISLATOR MEMBER COVERAGE PLAN 2".

     2. On page 1, line 19, after "A" insert a dash and "DISCLOSURE" and before "Under" insert the subsection designation "A.".

     3. On page 2, line 8, strike the ending quotation mark.

     4. On page 2, between lines 8 and 9, insert the following:

          "B. As an exception to Subsection I of Section 10-11-130 NMSA 1978, the association shall annually disclose to the public on January 2 the names of participants in state legislator member coverage plan 2 when the annual amount of the pension under form of payment A is calculated pursuant to this section."

     Section 2. TEMPORARY PROVISION--TIME PERIOD FOR ELIGIBILITY FOR STATE LEGISLATOR MEMBER COVERAGE PLAN 2.--Notwithstanding the provisions of Sections 10-11-43.1 and 10-11-43.6 NMSA 1978, a legislator or lieutenant governor serving on July 1, 2007 shall be eligible for state legislator member coverage plan 2 if, by December 31, 2007, the legislator or lieutenant governor elects to become a member and makes a contribution in an amount that totals five hundred dollars ($500) for each year of credited service earned prior to December 31, 2007.".

     5. Renumber the succeeding sections accordingly.

                             Respectfully submitted,

Henry "Kiki" Saavedra, Chairman

Adopted     Not Adopted

           (Chief Clerk)                            (Chief Clerk)

Date

The roll call vote was 10 For 0 Against

Yes:      10

No:       0

Excused:  Heaton, King, Larranaga, Lundstrom, Moore, Salazar, Wallace, Wirth

Absent:   None

.169086.1

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