Section 63-9A-5.2 - Transition of regulation; report to legislature. - New Mexico Statutes

63-9A-5.2. Transition of regulation; report to legislature.

A.     A mid-size carrier that is regulated under an alternative form of regulation plan on the effective date of this act shall continue to be regulated under the terms of that plan until the plan expires; thereafter, the mid-size carrier shall be regulated pursuant to rules adopted by the commission in accordance with Section 4 [63-9A-5.1 NMSA 1978] of this act.

B.     The public regulation commission shall adopt rules to implement the provisions of Section 4 [63-9A-5.1 NMSA 1978] of this act the earlier of sixty days prior to the expiration of a mid-size carrier's alternative form of regulation plan or sixty days prior to the commencement of operations in the state of a new mid-size carrier.

C.     The public regulation commission and mid-size carriers shall review the rules adopted in accordance with Section 4 [63-9A-5.1 NMSA 1978] of this act two years after the rules are effective and shall report their findings to the legislature.