Section 62-16A-15 - Legislative oversight.
62-16A-15. Legislative oversight.
A. In addition to its other duties, the New Mexico finance authority oversight committee [6-21-30 NMSA 1978] shall:
(1) monitor and oversee the operation of the authority;
(2) meet on a regular basis to receive and review reports from the authority on implementation of the provisions of the New Mexico Renewable Energy Transmission Authority Act and to review rules proposed for adoption pursuant to that act;
(3) review and provide assistance and advice to the authority before the authority enters into a project;
(4) undertake an ongoing examination of the statutes, constitutional provisions, regulations and court decisions governing energy transmission and renewable energy development; and
(5) report its findings and recommendations, including recommended legislation or necessary changes, to the governor, to the public regulation commission and to each session of the legislature. The report and proposed legislation shall be made available on or before December 15 of each year.
B. Once each calendar quarter, the authority shall report to the legislative finance committee on all expenditures made and activities conducted in the fiscal year to date pursuant to the provisions of the New Mexico Renewable Energy Transmission Authority Act.