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2004 Summary of New State Laws - New Mexico

Issue

Bill #

Bill Description

Motor Vehicle Insurance

(Traffic Safety - DUI)

SB 144

Lowers the DUI threshold and increases mandatory penalties upon conviction for commercial drivers. Effective 3/2/04. Chapter 42, Laws of 2004.

State Regulatory Authority

HB 240

Creates an insurance operations fund in the state treasury to appropriate to the division funds necessary to carry out its responsibilities under the Insurance Code and other applicable laws, with any remaining fiscal year balance greater than one-half of the appropriation reverting to the general fund. Effective 5/19/04. Chapter 5, Laws of 2004.

Tort Reform

(Judgment Interest)

SB 625

Permits a two percentage points above prime, as published in the Wall Street Journal on the date of entry, interest rate on judgments against a governmental entity or public employee for a tort for which immunity has been waived under the Tort Claims Act. Effective 7/1/04. Chapter 108, Laws of 2004.

Workers' Compensation

SB 30

Reduces the time period an ombudsman is ineligible to hold another position within the administration from five years to one year. Effective 7/1/04. Chapter 118, Laws of 2004.

Workers' Compensation

SB 74

Increases the assessments against employers under the Workers' Compensation Act from $2.00 to $2.30 per covered employee, with $0.30 of the fee per employee distributed to the uninsured employers' fund. Effective 7/1/04. Chapter 36, Laws of 2004.

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.

New Mexico State Resource Center