The bill seeks to enhance the operational efficiency and regulatory capabilities of the Public Regulation Commission (PRC) in New Mexico by introducing several key changes. It establishes a "utility oversight fund" to manage fees collected under the Public Utility Act, which will be administered by the commission, and mandates that all collected fees be remitted to the state treasurer. The bill also shifts the responsibility for enforcing the collection of unpaid fees, interest, and penalties from the attorney general to the commission itself. Additionally, it creates a public regulation commission nominating committee to ensure a diverse pool of nominees and updates continuing education requirements for commissioners, reinforcing compliance with the Gift Act to uphold ethical standards.

Further amendments include the introduction of a Chief of Staff role to oversee daily operations and consumer advocacy, as well as the requirement for the commission to prepare an annual budget and adopt rules for streamlined case resolutions. The bill deletes existing provisions related to the appointment of professional assistance and the requirement for a majority vote for final decisions, while clarifying the rule adoption process and establishing guidelines for communications between commissioners and involved parties. It also modernizes the licensing process for pipeline operators by updating fee structures and repealing outdated sections of the law, ultimately aiming to improve the commission's effectiveness in regulating industries and addressing consumer concerns.

Statutes affected:
introduced version: 62-8-9, 62-12-1, 62-19-2, 62-19-4, 62-19-6, 62-19-8, 62-19-9, 62-19-20, 62-19-21, 62-19-22, 62-19-23, 62-19-24, 63-7-21, 70-3-2