HB 7 — HEALTH CARE AFFORDABILITY FUND DISTRIBUTION

HOUSEAN BILLACT 7RELATING 56THTO LEGISLATURETAXATION; - STATEOFNEWMEXICO- SECOND SESSION , 2024 INTRODUCED BY Reena Szczepanski and Siah Correa Hemphill and Meredith A.

DixonAMENDING ThisA documentDISTRIBUTION mayTO incorporateTHE amendmentsHEALTH proposedCARE byAFFORDABILITY aFUND. committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

The5 documentBE isIT aENACTED toolBY toTHE showLEGISLATURE amendmentsOF inTHE contextSTATE andOF cannotNEW beMEXICO: used for the purpose of adding amendments to legislation.

ANSECTION ACT1. h RELATING TO TAXATION HAFCº;ELIMINATING AN UPCOMING DECREASE g o IN»HAFC HAFCºAMENDING»HAFC A DISTRIBUTION TO THE HEALTH CARE t hr g e i k AFFORDABILITY FUND.

hSection r7-1-6.69 iNMSA s1978 h(being ,Laws t,2021, BEChapter IT136, ENACTEDSection BY1) THEis LEGISLATUREamended OFto THEread: STATE OF NEW MEXICO:

e"7-1-6.69. u g e b l e e h SECTION 1.

DISTRIBUTION--HEALTH INSURANCE PREMIUM SURTAX--HEALTH CARE AFFORDABILITY FUND.--A distribution pursuant to Section 7-1-6.697-1-6.1 NMSA 1978 (beingshall Lawsbe 2021,made nto dthe dhealth icare =affordability =fund oin han Chapteramount 136,equal Sectionto 1)the isfollowing amendedamounts of the net receipts attributable to read:the health insurance premium surtax;

lprovided ]that bif ,dthe irate aof ºthe ehealth "7-1-6.69.insurance premium surtax is reduced pursuant to Subsection F of Section 7-40-3 NMSA 1978, no distribution pursuant to this section shall be made:

DISTRIBUTION--HEALTHA. INSURANCE PREMIUM r i = r t e w d m a n o SURTAX--HEALTH CARE AFFORDABILITY FUND.--A distribution d m :

b e d s º o t n = .227002.1GLGAIC February 14, 2024 (11:20am) s k m e e a n e d r e l u [ A d pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the health care affordability fund in an amount equal to SFCº HAFCº[the following amounts] fifty-five percent»HAFC HAFCºthe following amounts»HAFC»SFC SFCºSFCºfifty-five percent»SFC»SFC SFCºthe following amounts»SFC of the net receipts attributable to the health insurance premium surtax;

provided that if the rate of the health insurance premium surtax is reduced pursuant to Subsection F of Section 7-40-3 NMSA 1978, no distribution pursuant to this section shall be made of SFCº HAFCº.»HAFC HAFCº:»HAFC»SFC SFCºSFCº.»SFC»SFC SFCº :»SFC SFCº HAFCºA.

prior to July 1, 2025, thirty percent;

and B.

beginning July 1, 2025, fifty-five percent.»HAFC»SFC SFCº A.

beginning July 1, 2024 and prior to September 1, h g 2025, thirty percent;

and o t hr C.

beginning September 1, 2025, fifty-five gpercent." eSECTION i2. k h r percent.»SFC i s h [A.

beginningEFFECTIVE JanuaryDATE.--The 1,effective 2022date andof priorthe toprovisions Julyof 1,this ,act t,is eJuly u1, g2024. 2022, fifty-two percent;

eHB b7/a lPage e1 e25 h B.

beginning July 1, 2022 and prior to July 1, n d d i = = o h l ] b ,d 2024, fifty-five percent;

and i a º e r i = r C.

beginning July 1, 2024, thirty percent.]" t e w d m a n o d m :

b e d s º o t n = .227002.1GLGAIC February 14, 2024 (11:20am) s k m e - 2 - e a n e d r e l u [ A d HAFCºSECTION 2.

EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2024.»HAFC - 3 - » g o » r h t i k l i g t h s , e h t l i w l b l e e , g n d l h = = b , a l º d i a r e r = , a t e d m a n o d m :

b r e t º o t n = .227002.1GLGAIC February 14, 2024 (11:20am) s k em e e a n e d r e l u [ A d