New Mexico 2019 Regular Session Status: Enacted 1 R cosponsors

HB 50 — AUDIT REVIEWS BY BOARD OF FINANCE

Last action — Signed

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced December 17, 2018. Enacted.

Prognosis

Advancing 56% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 3 sponsors

    3 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

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

24 added · 67 removed

Plain-language change summary

The updated version of HB 50 now specifically requires the Educational Retirement Board, the Office of the State Treasurer, the Public Employees Retirement Association, and the State Investment Council to present their annual financial audit reports directly to the State Board of Finance for review. This change is important because it enhances oversight and accountability of these organizations, ensuring that their financial practices are subject to scrutiny by a higher authority. By improving transparency in financial reporting, the bill aims to protect stakeholders and public funds.

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HOUSE BILL 50 54TH LEGISLATURE - STATEOFNEWMEXICO- FIRST SESSIO, 2019 INTRODUCED BY Rodolpho "Rudy" S.
AN ACT RELATING TO PUBLIC AUDITS;
Martinez and Abbas Akhil and William B.
REQUIRING THE EDUCATIONAL RETIREMENT BOARD, THE OFFICE OF THE STATE TREASURER, THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION AND THE STATE INVESTMENT COUNCIL TO REPORT THEIR ANNUAL FINANCIAL AUDITS TO THE STATE BOARD OF FINANCE.
Pratt 7 9 AN ACT RELATING TO PUBLIC AUDITS;
8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
REQUIRING THE EDUCATIONAL RETIREMENT BOARD, THE OFFICE OF THE STATE TREASURER, THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION AND THE STATE INVESTMENT COUNCIL TO 14 REPORT THEIR ANNUAL FINANCIAL AUDITS TO THE STATE BOARD OF FINANCE.
SECTION 1.
e t 17 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
A new section of the Audit Act is enacted to read:
w l n d 18 SECTION 1.
"ANNUAL FINANCIAL AUDIT REPORT--STATE BOARD OF FINANCE REVIEW.--Within six months after the report is due to the state auditor, each of the educational retirement board, the office of the state treasurer, the public employees retirement association and the state investment council shall present the agency's current annual financial audit report to the state board of finance for review." HB 50 Page 1 25
A new section of the Audit Act is enacted to = = 19 read:
a l i a e r 20 "[NEW MATERIAL] ANNUAL FINANCIAL AUDIT REPORT--STATE BOARD a t m m 21 OF FINANCE REVIEW.--Within six months after the report is due d r e 22 to the state auditor, each of the educational retirement board, c e s k 23 the office of the state treasurer, the public employees e a n b 24 retirement association and the state investment council shall u [ present the agency's current annual financial audit report to .211297.1SA the state board of finance for review." - 2 - 4 6 8 10 12 14 16 e e 17 e e n d 18 = = l ] 19 a l r i 20 t e a t m m 21 e d r e 22 c e r c 23 e a n b 24 u [ .211297.1SA
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Action History

  1. Signed

  2. passed Senate

  3. DO PASS committee report adopted

  4. Sent to Senate Finance Committee

  5. passed House

  6. DO PASS committee report adopted

  7. Sent to House Judiciary Committee

  8. Sent to House Pre-file

Sponsors

  • Abbas Akhil · Primary
  • William B. Pratt · Primary
  • Alan T. Martinez · Primary

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 109 not signed on

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (109)

109 members have not signed on to this bill.

Show all 109 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 50?
HB 50 is sponsored by Akhil, Abbas, Pratt, William B., and Alan T. Martinez (Republican).
What is the current status of HB 50?
This bill has been enacted into law. Introduced December 17, 2018. Enacted.
Where can I track HB 50?
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