Pub. 17 2020 Issue 1

4 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 EXECUTIVE VICE PRESIDENT’S MESSAGE JOHN W. ANDERSON EXECUTIVE VICE PRESIDENT New Mexico Bankers Association 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. 2020 LEGISLATIVE UPDATE Personal Thoughts: How fortunate we were that the 2020 Legisla - ture concluded its work prior to the coronavirus pandemic. Many state legislatures have had to suspend their legislative activities until further notice. The NewMexico legislature will have to return to Santa Fe in the future to revise the 2020-2021 budget — the only question is, “will that session occur in person or brought to you via Zoom”? At the beginning of March, who would have guessed such terminology such as “social distancing,” “stay-home orders,” “essential vs. nonessential businesses,” and “mass gatherings” would become so familiar? Yes, the pandemic is real and responsible for many deaths. There are so many heroes in this battle. We commend all of the incredible health care workers, physicians and nurses who are fighting COVID-19 on the front lines. The restaurant, grocery store and bank personnel, just to name a few, are some of those who heroically risk their health to provide services deemed essential for New Mexicans. We must appreciate all of these individuals in the coming years and the sacrific - es they are making for our safety and well-being. Legislature Adjourns The 2020 Legislature adjourned at noon Thurs - day, Feb. 20, having considered 403 House bills and 320 Senate bills. Legislators approved only 88 bills, which were sent to the Governor for her con- sideration. Ultimately, the Governor vetoed only four bills – the fewest in the state’s history. With the outbreak of the coronavirus, which has forced businesses and schools to close and oil prices plunging to their lowest level in years, state officials are projecting an imminent budget crisis for the state. Senator John Arthur Smith, Chairman of the Legislative Finance Commit- tee, said recently that the state could be facing a $2 billion loss in oil and gas-related revenue if the crisis continues through 2020 and into 2021. He noted that for each one dollar drop in price for a barrel of oil, the State loses an average of approximately $22 Million in revenue over a year's time. Governor Grisham has indicated that a special session of the Legislature is inevi- table. State officials need updated revenue esti - mates prepared and an understanding of federal emergency funding assistance before a session is called. The special session will rely on adjusting proposed spending levels for the next state fiscal year starting Jul. 1, addressing public health, and preparing an economic relief package for businesses, workers and local governments. 30-day Session: The 2020 30-day Session, as with all 30-day sessions, was limited by the state constitution to bills dealing with state bud- get and revenue issues (appropriations and tax measures), legislation that the Governor requests the Legislature to address, and bills vetoed by the Governor in the previous legislative session. If legislation is introduced that was not in one of those categories, it was not considered “germane” and not allowed to