FORTY-SECOND LEGISLATURE             SB 373/a
                       SECOND SESSION, 1996
  
  
                                                  January 31, 1996
  
  Mr. President:
  
    Your WAYS AND MEANS COMMITTEE, to whom has been referred
  
                          SENATE BILL 373
  
  has had it under consideration and reports same with recommendation
  that it DO PASS, amended as follows:
  
    l.  On page 2, line 1, strike "appropriated and".
    
    2.  On page 3, between lines 17 and 18, insert the following new
  subsection:
  
     "B.  The New Mexico finance authority may issue and sell
  revenue bonds authorized by this section when the superintendent of
  insurance certifies the need for issuance of the bonds.  The net
  proceeds from the sale of the bonds are appropriated to the
  department of insurance for the purposes described in Subsection A of
  this section.".
  
    3.  Reletter the succeeding subsections accordingly.
  

    4.  On page 3, line 18, after "surcharge" insert "shall be".
  
    5.  On page 3, line 20, strike "are appropriated to the
  authority".
  
    6.  On page 3, line 23, strike "appropriated" and insert in lieu
  thereof "distributed".
  
    7.  On page 4, line 5, strike "shall be made available" and
  insert in lieu thereof "may be appropriated by the legislature".,
    
  and thence referred to the FINANCE COMMITTEE. 
        
                 Respectfully submitted,
  
  
  
                 __________________________________
                 TITO D. CHAVEZ, Chairman 
  
  
  
  Adopted_______________________ Not Adopted_______________________
            (Chief Clerk)                          (Chief Clerk)
  
  
                    Date ________________________
  
  
  The roll call vote was  6  For  1  Against
  Yes:  6
  No:     Rawson
  Excused:   Wiener
  Absent: 0
  
  
  
  
  
  S0373WM1                                               .111016.1