Senate Finance Committee advances committee substitute for "Senate Bill 3 76" with do-pass recommendation

The New Mexico Senate Finance Committee on an unspecified date advanced a committee substitute for "Senate Bill 3 76," adopting a substitute that removes a previously filed amendment and directs the relevant department to review a range of plan options.

The substitute was adopted for discussion after a motion by Senator Hill and a second by Senator Padilla. Committee members then moved and approved a do-pass recommendation on the substitute; the committee reported a do-pass recommendation with 6 votes in the affirmative and 0 in the negative.

The substitute preserves an actuarial reporting requirement intended to keep rates “actuarially sound,” while adding direction for the department to examine alternative plan structures that lawmakers said might lower costs. Senator Woods, who the committee identified as presenting the bill to the committee, explained the substitute “lets them review more plans and more options to change the structure of the bill” and that actuarial checks were retained to ensure rates remain “solid going forward.”

Committee members conducted the discussion under a committee substitute rather than the previously offered amendment; the committee record shows no public comment on the matter during the hearing. The committee completed its action by voice and roll call, then moved on to other agenda items.

Votes at a glance: the committee recorded a do-pass recommendation on the committee substitute for "Senate Bill 3 76," 6-0.

No implementation date or further legislative steps were stated in the committee record provided.