The purpose of 17.12.770 NMAC is to carry out the explicit legislative intent of Sections 62-3-2.1 and 62-8-7.1 NMSA 1978, as amended, to limit governmental regulation of rate setting by small water utilities and to provide a degree of regulatory oversight of small water utilities that is proportionate to the need and benefit of such regulation.
N.M. Admin. Code § 17.12.770.6