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…
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…
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.
State Sen. Tim Keller, D-Albuquerque, announced his second phase of reform of the State Investment Fund: His new proposed legislation for the upcoming 60-day session includes taking the governor off of the State Investment Council (SIC) entirely.
“We made big changes last round that helped a lot, but it wasn’t quite enough. It’s now time that we finish the job,” Keller said in a statement to the press. “This summer new structural problems have come to light for all of our investment funds. My legislative package will address these, including the most significant, taking the governor off the SIC entirely.”
Keller will be presenting the legislation for interim endorsement at the Legislative Investment Oversight Committee on December 1. Legislators can begin pre-filing legislation for the 60-day session beginning on December 15.
Last year, Keller’s SB 18 passed both the House and Senate unanimously on its way to becoming law. That law sharply reduced the power that the governor had over the SIC.
In this new legislation, the governor would still retain the power to appoint several seats to the investment board.
Keller’s proposed legislation would also seek to eliminate “a structural conflict of interest” in investigating for securities fraud as well as seeking to establish “a formal structure and performance metrics for all the Economic Targeted Investments, including the state film fund.”
Keller says he’ll also seek to “depoliticize” the small business investment council which invests about $45 million to small businesses.
