This bill amends the membership structure of the Legislative Finance Committee in New Mexico, increasing its total membership to sixteen, with eight members from the House of Representatives and eight from the Senate. The bill specifies that the chairs of the House Appropriations and Finance, House Taxation and Revenue Committees, and the Senate Finance Committee will be members of the committee. Additionally, it introduces the chair and a minority member from the Legislative Health and Human Services Committee as members, ensuring representation from both political parties in each house. The bill also revises the appointment process, reducing the number of remaining members appointed from the House from six to five and from the Senate from seven to six.

Furthermore, the bill clarifies the process for designating substitutes for absent members and establishes that the committee's officers will be appointed for terms that align with their membership. It mandates that the chair and vice chair alternate between the two houses every two years, with the chair being a Senate member and the vice chair a House member for the terms beginning in 1979. The bill declares an emergency, indicating that it is necessary for public peace, health, and safety for the act to take effect immediately.

Statutes affected:
introduced version: 2-5-1