3-YEAR INSURANCE PREMIUM RATE HEARINGS
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HB 79 — 3-YEAR INSURANCE PREMIUM RATE HEARINGS
Last action — Signed
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed House
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✓Passed Senate
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 12, 2023. Enacted.
Signed by Governor Michelle Lujan Grisham (Democratic) on April 05, 2023.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (1 D).
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Bill Text
What changed in the latest version
51 added · 102 removedPlain-language change summary
The updated bill mandates that a hearing to review premium rates and other title insurance matters must take place every three years, specifically starting no earlier than November 1. The change replaces the previous requirement of holding these hearings only in odd-numbered years. This ensures more regular oversight and can lead to more timely adjustments to insurance rates, promoting fairness and transparency for consumers.
HOUSE BILL 79 56TH LEGISLATURE -STATEOFNEWMEXICO- FIRST SESSION, 2023 INTRODUCED BY Dayan Hochman-Vigil 6 8 10 AN ACT RELATING TO INSURANCE;
156 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 59A-30-8 NMSA 1978 (being Laws 1985, e t 17 Chapter 28, Section 8, as amended) is amended to read:
w l n d 18 "59A-30-8.
HEARINGS--NOTICE.-- = = 19 a l A.
The superintendent shall commence a hearing i a e r 20 [during] no earlier than November 1 of [each odd-numbered] a t m m 21 every third calendar year to consider promulgation of premium d r e 22 rates and any other matters related to the regulation of the c e s k 23 business of title insurance deemed necessary by the e a n b 24 superintendent.
u [ B.
The superintendent may, in the superintendent's .223645.2 discretion, hold a public hearing at any time to consider promulgation of premium rates and such other matters and subjects related to the regulation of the business of title insurance as the superintendent shall determine necessary or proper.
The superintendent may promulgate premium rates and forms of title insurance policies only after a public HB 79 Page 1 hearing as provided in Subsections A and B of this section.
The superintendent shall issue a decision within sixty days following the filing of the notice of closure of the administrative record for the public hearing e t 17 provided for in Subsections A and B of this section.
However, w l n d 18 if the superintendent determines that the data and information = = 19 a l presented to the superintendent pursuant to Section 59A-30-7 i a e r 20 NMSA 1978 are incomplete, inaccurate or otherwise insufficient a t m m 21 to determine whether a change in rates is warranted, the d r e 22 superintendent shall require a party, intervenor or participant c e s k 23 at the public hearing to furnish the additional necessary data e a n b 24 and information, and, in such event, the period of time allowed u [ for the superintendent to issue a decision shall commence from .223645.2 - 2 - the date such additional data and information are furnished." -HB 379 -Page 42 625 8 10 12 14 16 e t 17 w l n d 18 = = 19 a l i a e r 20 a t m m 21 d r e 22 c e s k 23 e a n b 24 u [ .223645.2
View plain text versions (2)
- Final Version View text Current pdf
- Introduced introduced version pdf
Action History
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Signed
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passed Senate
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DO PASS committee report adopted
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DO PASS committee report adopted
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Sent to Senate Tax, Business and Transportation Committee & Senate Judiciary Committee
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passed House
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DO PASS committee report adopted
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DO PASS committee report adopted
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Sent to House Health & Human Services Committee & House Commerce & Economic Development Committee
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Sent to House Pre-file
Sponsors
- Dayan Hochman-Vigil · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 111 not signed on
Sponsors (1)
- Dayan Hochman-Vigil Democrat
Co-sponsors (0)
None.
Not signed on (111)
111 members have not signed on to this bill.
Show all 111 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- Who sponsors HB 79?
- HB 79 is sponsored by Dayan Hochman-Vigil (Democrat).
- What is the current status of HB 79?
- This bill has been enacted into law. Introduced January 12, 2023. Enacted.
- Where can I track HB 79?
- Track HB 79 free on One Click Politics — get push/email alerts when it moves.
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