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The New Mexico Independent going forward

By | 11.16.11

I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…

EIB hears more anti-cap-and-trade testimony

Mesa Verde 80
By | 11.10.11

While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…

New Mexico’s largest university low in popularity

jobs-80
By | 11.10.11

Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.

SIC reform is tweaked, moves on

By | 02.08.10 | 12:59 pm

After consolidating three bills into one, the Senate Rules Committee made a few more big changes to a bill designed to reform the State Investment Council.

“Blending these three bill together we finally have true reform,” said Sen. Cisco McSorley, D-Albuquerque.

The new bill would change the State Investment Council (SIC) in several ways:

  • The Governor would be removed from the SIC.
  • The SIC would select the State Investment Officer, not the Governor.
  • The SIC would gain the authority to hire and fire management services. That is now the purview of the State Investment Officer.
  • The Governor would appoint only three members of the SIC (and only 2 from the same political party).
  • If a member of the SIC misses three meetings in a row, they would lose their seat.
  • Seven appointed public members of the SIC must have 10 years experience in investment or finance.

“This appears to be a pretty good shot, pretty good stab at it,” said Sen. Tim Jennings, D-Roswell, talking about the bill, “As long as we don’t add too much to this to give someone a reason to veto the thing.”

The committee however, did change a few things. Originally the Governor had four selections to the SIC, and the number of meetings members could miss was also at four.

The bill will now head to the Senate Finance Committee.

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