N.M. Admin. Code § 20.3.16.9

Current through Register Vol. 35, No. 21, November 5, 2024
Section 20.3.16.9 - CONSUMER PRICE INDEX ADJUSTMENT

Starting in fiscal year 2027, then in each subsequent calendar year, all fees in this Part shall be increased pursuant to the provisions in this Part if there is an increase in the unadjusted consumer price index (CPI) for all urban consumers, United States city average for all items, or its successor index, as published by the U.S. Bureau of Labor Statistics or its successor agency. The increase shall be measured by the percentage increase of the consumer price index as of October of the immediately preceding year over the level of the consumer price index as of October of the next previous year and shall be rounded up to the nearest dollar. A fee increase shall take effect on July 1 of the year in which the fee schedule is adjusted. In the event there is a decrease or absence of change in the CPI, fees shall remain the same until the next increase in CPI as described in this paragraph.

N.M. Admin. Code § 20.3.16.9

20.3.16.9 NMAC - N, 5/19/2002, Adopted by New Mexico Register, Volume XXXV, Issue 07, April 9, 2024, eff. 5/1/2024