New Mexico § 10-7-12 - Government cost savings incentive award
Full text of New Mexico New Mexico Statutes Annotated § 10-7-12 — Government cost savings incentive award, with citation guidance and answers to common questions.
§ 10-7-12. Government cost savings incentive award
A. As used in this section: (1) “actual cost savings” means realized, not projected, cost savings substantiated
by documentation; (2) “award” means a government cost savings incentive award; (3) “economy” includes maximizing the purchasing value of public funds; (4) “efficiency” includes a significant reduction in paperwork and the elimination
of unnecessary rules, regulations and procedures; and (5) “state agency” means any office, department, institution, school district, board,
commission, court, district attorney, council or committee of state government which
receives appropriations and is authorized expenditures pursuant to a general appropriation
act. B. A state agency may provide an award to any employee whose accomplishment or written
suggestion beyond the scope of his responsibility contributes to the efficiency, economy
or improvement of agency operations and results in actual cost savings to the agency. C. An award pursuant to this section shall: (1) be paid only from actual cost savings; (2) be paid only on the payday immediately following the first full pay period succeeding
the award or immediately prior to separation or transfer from the agency; and (3) be paid one time based on actual cost savings in an amount not to exceed the lesser
of: (a) two thousand dollars ($2,000); or (b) an amount equal to ten percent of the actual cost savings attributable to the
employee in the twelve-month period immediately preceding the award or a lesser period
preceding the award, if appropriate. D. Documentation substantiating awards pursuant to this section shall be submitted
to the state personnel board which shall, as necessary or appropriate, prescribe regulations
and review proposed awards made under this section and procedures used in making the
awards to verify the cost savings for which the awards were made. E. The state personnel board shall report by September 1 of each year to the legislative
finance committee all awards paid and savings realized under this act [this section].
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 10-7-12
What does New Mexico Statutes Annotated § 10-7-12 cover?
Section 10-7-12 ("Government cost savings incentive award") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 10-7-12?
A common citation format is "New Mexico Statutes Annotated § 10-7-12" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 10-7-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.