Pub. 15 2018 Issue 1

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 8 n OPPORTUNITY  continued from page 7 Legislature had to be convened in order to restore critical funding. So, what a difference a year makes. A year ago, during the 60 day session, the state capitol was often referred to as a “combat zone.” This year, the session was marked by bipartisan compro - mise and little appetite for political confrontation. Many have asked why the change? A highly favorable budget situation cre - ated a positive environment unlike the 2016 and 2017 sessions where the Legislature had to exhaust reserves and borrow from state programs and cut state agencies. Also, the fact that 2018 is an important election year understandably increased the bi - partisanship all the more. Finally, the Governor and Legislature appeared to tire of continued conflict and many legislators chose to wait until next year with a new Governor to pursue legislation that Governor Martinez has opposed. 2018 Election: The 70 members of the NM House of Representatives will stand for re-election this year. However, there have been seven House members who have announced they will not seek re-election either because they are retiring or seeking other elected offices. The list includes: • Nate Gentry (R-Albuquerque): House Minority Leader • Stephanie Garcia Richard (D-Los Alamos): Running for State Land Commissioner • Yvette Herrell (R-Alamogordo): Running for Congress, District 2 • Sarah Maestas Barnes (R-Albuquerque) • Bill McCamley (D-Las Cruces): Running for State Auditor • Dennis Roch (R-Logan) • Nick Salazar (D-Ohkay Owingeh) • James Smith (R-Sandia Park) Most state-wide officers are also up for election or re-elec - tion, including Governor, Lieutenant Governor, Secretary of State, Treasurer, Auditor, State Land Commissioner and At - torney General. Our three Congressional seats are in play with two seats open as Congresswoman Grisham and Congressman Pearce are both running for Governor. Senator Heinrich is also running for re-election in 2018. 30-day session: The 2018 30-day session, as with all 30 day sessions, was limited by the state constitution to bills dealing with state budget and revenue issues (appropriations and tax measures), legislation that the governor asks the Legislature to address, and bills vetoed by the governor in the previous legislative ses - sion. If legislation is introduced that was not in one of those categories, it was not considered “germane” and not allowed to move through the process. However, this limitation does not apply to proposed constitutional amendments, which can be introduced in any legislative session, require only a majority vote in both chambers, and are not subject to approval or veto by the Governor. Memorials and resolutions are also allowed in the short session. Legislation Approved: • Uniform Directed Trust Act; • Revise Trust Company Act; • Scaled-down version of the UniformGuardianship, Con - servatorship and Other Protective Arrangements Act; • State-wide omnibus anti-crime package; • Funding for the Carlsbad brine well remediation project; • Attorney general to analyze the general compliance with the notification requirements of the State Data Breach NotificationAct as it relates to the 2017Equifaxdata breach; • Task force of interested parties to determine possible ways to provide checking account services for foster children age 16-17 without the requirement of an adult cosigner; • Additional funding for the Financial Institutions Division Legislation Considered but Not Enacted • Right to work; • State-owned bank study; • Glass-Steagall memorial; • Legalization of cannabis; • Increase in minimum wage; • Liquor license revisions; • Change state investment council membership; • Removal of film tax credit annual cap; • Utilization of land grant permanent fund for early child - hood education and public safety; • Increase gasoline and special fuels tax; • Re-impose gross receipts tax on food; • Increase tax on tobacco products; • Revision of gross receipts taxation; • Gun safety and sales; In our view, all of these issues will be in play in 2019. So, what a difference a year makes. A year ago, during the 60 day session, the state capitol was often referred to as a combat zone. This year, the session was marked by bipartisan compromise and little appetite for political confrontation. Many have asked why the change?