A. All fees and money collected under the provisions of the Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978], including fees provided for in Section 62-13-2 NMSA 1978 and including fees and charges for inspection and supervision, for stenographic services and for transcripts of evidence, shall be remitted by the commission to the state treasurer not later than the day following receipt. Payments provided for in the Public Utility Act shall be obligatory upon all utilities subject to the Public Utility Act.
B. When a fee is not paid on the date it is due, interest shall be paid to the state on the amount due. The interest on the amount due shall start to accrue on the day following the due date and will continue to accrue until the total amount due is paid. The rate of interest on a late fee payment shall be fifteen percent per year, computed at the rate of one and one-fourth percent per month.
C. In addition to any interest due on a late fee payment, a penalty shall be paid to the state for failure to pay the fee when it was due. The penalty imposed shall be two percent of the amount of the fee due.
D. The attorney general, in the name of the state, shall bring suit to collect fees, interest and penalties that remain unpaid.
History: 1953 Comp., § 68-6-9.1, enacted by Laws 1957, ch. 25, § 1; 1992, ch. 23, § 1.
ANNOTATIONSCompiler's notes. — Sections 62-8-1 to 62-8-9 of the Public Utility Act are still effective as the repeal of Chapter 62, Article 6 by Laws 1998, Chapter 108, Section 82, effective July 1, 2003 Chapter 108, Section 82 was repealed prior to taking effect by Chapter 23, Section 1, Laws 2003. Although Laws 2003, Chapter 336, Section 8, amended Laws 1998, Chapter 82, as amended, an amendment of a repealed section is ineffective. See Quintana v. N.M. Dep't of Corrs., 100 N.M. 224, 668 P.2d 1101 (1983). Laws 2003, Chapter 416, Section 5 also repealed Laws 1998, Chapter 108, Section 82, as amended, a second time, however, that repeal is of no effect as the section had previously been repealed by Chapter 23, Section 1, Laws 2003.
The 1992 amendment, effective July 1, 1992, added the present catchline; added the Subsection A designation; in Subsection A, made a section reference substitution, inserted "inspection and supervision, for", deleted the former last sentence, relating to failure, neglect or refusal of a utility to pay on the date it is due, and made stylistic changes; and added Subsections B, C, and D.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 73B C.J.S. Public Utilities § 65.