SB 162 STATE AGENCY INSUFFICIENT BALANCES

Sen George K Munoz

Actions: [2] SCC/SHPAC/SJC-SCC

Scheduled: Not Scheduled

 Senate Bill 162 (SB 162) This legislative act is related to public finance in the state of New Mexico. The act addresses the drawing or payment of a warrant by an employee of a state agency when there is an insufficient balance, and it prescribes penalties for this type of action. 

 Senate Bill 162 (SB 162) An employee of a state agency is prohibited from drawing a warrant or directing another employee to draw a warrant on the secretary of finance and administration when they know or reasonably should know that there is an insufficient unexpended and unencumbered balance for the intended purpose.
•	Exception: The violation is not applicable if the warrant is redeemed using receivables accrued for that fiscal year according to the policies of the department of finance and administration.
•	An employee found guilty of violating this section is considered guilty of a misdemeanor and may be fined up to one thousand dollars ($1,000). 
•	Additionally, the state is not allowed to employ any person convicted under this section for a period of five years after the date of conviction.