State of New Mexico
                    House of Representatives
  
                    FORTY-SECOND LEGISLATURE
                      SECOND SESSION, 1996
  
  
                                              February 12, 1996
  
  
  Mr. Speaker:
  
     Your TAXATION AND REVENUE COMMITTEE, to whom has
  been referred
  
                         HOUSE BILL 449
                                
                                 has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
     1.  On page 5, between lines 7 and 8, insert the following new
  section:
  
     "Section 3.  Section 59A-23D-3 NMSA 1978 (being Laws 1995,
  Chapter 93, Section 3) is amended to read:
  
     "59A-23D-3.  ACCOUNT ADMINISTRATOR--REGISTRATION WITH
  DEPARTMENT--DEPARTMENT POWERS AND DUTIES.--
  
          A.  An account administrator shall register with the
  department and pay a registration fee of twenty-five dollars
  ($25.00).  The registration fee shall be deposited in the general
  fund.  Registration as an account administrator does not affect the
  regulation of a bank, savings and loan association, credit union,
  trust company or insurance company as otherwise provided by law.
  
          B.  An account administrator shall provide to the
  department annually a list of the employers for whom it provides
  account administration and the number of employees and dependents for
  whom it administers accounts.  The information shall be provided in
  the form requested by the department.  The department may request
  other information it deems appropriate from the account
  administrator; provided, however, that the department shall not
  request any information about an individual employee or dependent
  unless a complaint has been filed with the department by that
  employee or dependent and the information is required to investigate
  the complaint.
  
          C.  The department may receive, investigate and settle
  complaints about medical care savings accounts and account
  administrators or it may refer complaints to other appropriate
  agencies.
  
          D.  The department shall adjust annually the maximum
  deductible for qualified higher deductible health plans to reflect
  the last known increase in the medical care component of the consumer
  price index published by the United States department of labor.  For
  1995, the maximum deductible shall not be less than one thousand
  dollars ($1,000) and not more than three thousand dollars ($3,000).
  
          E.  [The department may adjust annually the maximum
  employer contribution to reflect the last known increase in the
  medical care component of the consumer price index.  For 1995, the
  employer's contribution shall not exceed three thousand dollars
  ($3,000).]  The annual employer contributions shall not exceed two
  thousand dollars ($2,000).  Any annual contributions by an employee
  shall not exceed two thousand dollars ($2,000)."".
  
     2.  Renumber the succeeding sections accordingly.
  
     3.  On page 13, line 12, strike "and 5" and insert in lieu
  thereof ", 3 and 6".
  
     4.  On page 13, line 14, strike "3, 4, 6 and 7" and insert in
  lieu thereof "4, 5, 7 and 8".
  
     5.  On page 13, line 16, strike "9" and insert in lieu thereof
  "10".
  
     6.  On page 13, line 18, strike "3, 4, 6 and 7" and insert in
  lieu thereof "4, 5, 7 and 8".
  
     7.  On page 13, lines 22 and 23, strike "3, 4, 6 and 7" and
  insert in lieu thereof "4, 5, 7 and 8".
  
                              Respectfully submitted,
  
  
  
                                                               
                              Jerry W. Sandel, Chairman
  
  
  Adopted                          Not Adopted                       
          (Chief Clerk)                       (Chief Clerk)
  
                       Date             
  
  The roll call vote was 12  For 0  Against
  Yes:         12
  Excused:     None
  Absent: Ryan
  
  
                                                      .111905.2
  H0449TR1