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New Mexico Supreme Court won't restore funds to Legislature
Court News |
2017/05/09 14:38
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The New Mexico Supreme Court on Thursday rejected a request to override budget vetoes, leaving negotiations about how to solve the state's budget crisis — and restore funding to the Legislature — in the hands of the governor and lawmakers.
In a two-page order, the court said it was too soon to consider any possible constitutional violations related to Gov. Susana Martinez's vetoes of all funding for the Legislature and state universities in the coming fiscal year.
The order said the Legislature's lawsuit was "not ripe for review," siding with attorneys for the governor who cautioned justices against an abuse of their judicial power.
The Republican governor has called a special session for May 24 in an attempt to resolve the state budget crisis linked to faltering tax revenues and a weak state economy.
The Democratic-led Legislature had argued that Martinez overstepped her authority by defunding the legislative branch of government and all state institutions of higher education.
Martinez had urged the state Supreme Court to stay out of budget negotiations and said her vetoes were made in pursuit of reductions to state spending and never sought to abolish the Legislature.
Thursday's ruling sent lawmakers and the governor back to the negotiating table with no signs of agreement on how to shore up wobbly state finances.
"We need to have a little love, and there is not much love going around right now," said Republican Sen. Bill Sharer, R-Farmington, describing distrust that stands in the way of a budget deal and related tax reforms.
For the upcoming special session, Martinez has outlined rough proposals to restore most vetoed funding for the fiscal year starting July 1. Democratic lawmakers say the proposals are linked to untenable tax revenue increases on nonprofits and food.
The governor's office issued a statement praising the court decision and prodding legislative leaders to abandon a proposed tax increase on gasoline sales designed to shore up state finances. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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