The "utility oversight fund" is created as a nonreverting fund in the state treasury. The fund consists of fees collected pursuant to Sections 62-8-8, 62-8-9 and 63-7-20 NMSA 1978, as well as appropriations, gifts, grants and donations and earnings on investment of the fund. The fund shall be administered by the commission. Money in the fund is subject to appropriation by the legislature to the commission to carry out the commission's duties pursuant to the Public Utility Act [Articles 1 through 6 and 8 through 13 of Chapter 62 NMSA 1978]. Disbursements from the fund shall be made by warrant of the secretary of finance and administration pursuant to vouchers issued and signed by the chief financial officer of the commission or the chief financial officer's authorized representative.

History: Laws 2026, ch. 64, § 3.

ANNOTATIONS

Effective dates. — Laws 2026, ch. 64 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 20, 2026, 90 days after adjournment of the legislature.