Signed by Governor Michelle Lujan Grisham

Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes updates on New Mexico's Public Accountancy Act to revise definitions, adjust certification and education requirements.

Highlights:

• Specifies that an applicant for a certificate shall complete the application form provided by the board and demonstrate to the board's satisfaction that the applicant (Sec. 2):

• Is of good moral character and lacks a history of dishonest or felonious acts; and

• Meets the education, accounting experience, and examination requirements of the board.

• Specifies that the board may refuse to grant a certificate on the ground that the applicant failed to satisfy the requirement of good moral character (Sec. 2).

• Specifies that the education requirement for examination shall be (Sec. 2):

• A baccalaureate degree or its equivalent from a college or university acceptable to the board plus completion of an additional thirty semester hours of higher education in accounting or business;

• A baccalaureate degree from a college or university acceptable to the board with a concentration in accounting or business; or

• A master's degree from a college or university acceptable to the board with a concentration in accounting or business.

• Specifies that the education and accounting experience requirement for a certificate shall be (Sec. 2):

• A baccalaureate degree or its equivalent from a college or university acceptable to the board, plus completion of an additional thirty semester hours of higher education in accounting or business and evidence of at least one year of accounting experience;

• A baccalaureate degree from a college or university acceptable to the board with a concentration in accounting or business and evidence of at least two years of accounting experience; or

• A master's degree from a college or university acceptable to the board with a concentration in accounting or business and evidence of at least one year of accounting experience.

Full Bill Text