N.M. Admin. Code § 1.10.31.7

Current through Register Vol. 35, No. 21, November 5, 2024

Section 1.10.31.7 - DEFINITIONS

A."Business interest" means any direct or indirect financial interest or financial obligation of $10,000 or more such as an owner, member, partner, lessor, investor, or shareholder in a business or where the filer is at risk of losing $10,000 or more.

B."Consulting" means giving expert advice in professional, technical, financial, legal, and business matters.

C."Employer" means a person or organization that hires and pays another person in exchange for work.

D."External complaint" means a complaint filed by a person and not instituted by either the secretary of state or the state ethics commission.

E."Filer" means the person obligated to file a financial disclosure statement.

F."Financial disclosure statement (FDS)" means the pdf form prescribed by the secretary of state that is generated upon a filer filing a report in the electronic system provided by the secretary of state.

G."Income" means money that a person receives in exchange for working, producing a product or service, or investing capital. For purposes of financial disclosure statements, per diem is considered income when it is deemed taxable by the Internal Revenue Service.

H."Income source" means the broad categories as described pursuant Paragraph (2) of Subsection D of Section 10-16A-3 NMSA 1978.

I."Internal compliance violation" means a violation of the Financial Disclosure Act identified by the secretary of state or the state ethics commission based on incomplete, misleading, false, or incorrect financial disclosure statement.

J."Major areas of specialization" means the areas of law or consulting for which a person concentrates to earn an income.

K."State agency head" means the principal officer of any executive or legislative agency receiving an annual appropriation in either Section 4 of the General Appropriations Act or an annual appropriations bill appropriating funds to legislative agencies.

L."Title" means the name given to a position of employment by an employer.

M."Professional license" means an official process, administered by a state-level authority, that is required by law for an individual to practice or work in a regulated profession.

N."Voluntary compliance" means a filer's correction of all violations alleged in a complaint or a notification from the secretary of state or the state ethics commission of an internal compliance violation.

N.M. Admin. Code § 1.10.31.7

Adopted by New Mexico Register, Volume XXXII, Issue 24, December 28, 2021, eff. 1/1/2022