SB 151 — PREMIUM TAX TO EMERGENCY SERVICES FUND

SENATEAN TAX,ACT BUSINESSRELATING ANDTO TRANSPORTATIONTAXATION; COMMITTEE SUBSTITUTE FOR SENATE BILL 151 56TH LEGISLATURE - STATEOFNEWMEXICO- SECOND SESSION , 2024 This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

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h g o AN ACT t hr g e i k RELATING TO TAXATION;

DISTRIBUTING A PORTION OF THE PREMIUM TAX h r i s FROM HEALTH INSURANCE BUSINESS TO THE EMERGENCY MEDICAL h , t, SERVICES FUND;

e6 u g e b l e e h n d d i = = o h BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

l ] b ,d i a º e SECTION 1.

Section 7-1-6.62 NMSA 1978 (being Laws 2019, r i = r t e w d m a n o Chapter 47, Section 2, as amended) is amended to read:

d"7-1-6.62. m :

b e d s º o t n = .227766.1AIC February 7, 2024 (12:15pm) s k m e e a n e d r e l u [ A d STBTC/SB 151 "7-1-6.62.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the law enforcement protection fund in an amount equal to ten percent of the net receipts attributable to the premium tax from life, health, general casualty and title insurance business.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the fire protection fund of the net receipts attributable to the premium tax derived from property and vehicle insurance business.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the emergency medical services fund in an amount equal to SFCºten»SFCfive SFCºfive»SFC percent of the net receipts attributable to the premium tax from health insurance business." SECTION 2.

Section 24-10A-3 NMSA 1978 (being Laws 1978, h Chapter 178, Section 3, as amended) is amended to read:

gSTBTC/SB o151 Page 1 "24-10A-3.

EMERGENCY MEDICAL SERVICES FUND CREATED-- t hr g e i k FUNDING.-- h r i s A.

The "emergency medical services fund" is created h , t, in the state treasury.

Money in the fund shall not revert at e u g e b l e e h the end of any fiscal year.

Money appropriated to the fund or n d d i = = o h accruing to it through distributionsdistributions, , gifts, grants, fees or l ] b ,d i a º e bequests shall be deposited in the fund.

Interest earned on r i = r t e w d m a n o investment of the fund shall be credited to the general fund.

dDisbursements mfrom :the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary or the secretary's authorized representative.

b e d s º o t n = .227766.1AIC February 7, 2024 (12:15pm) s k m e - 2 - e a n e d r e l u [ A d STBTC/SB 151 Disbursements from the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary or the secretary's authorized representative.

The h u formula shall determine each municipality's andSTBTC/SB county's151 sharePage »2 rand tcounty's hshare of the fund based on the relative geographic size and g e l i population of each county.

The formula shall also base the h r i s h , distribution of money for each municipality and county on the e h t u g relative number of runs of each local recipient eligible to e b l e e , gh participate in the distribution.

n d d i = = o h l ] b ,d D.

i a º r e r = (1) twenty-two percent of the fund may be used tfor eemergency wmedical dservices msystem aimprovement nprojects, oincluding dthe mpurchase :of emergency medical services vehicles, local and statewide emergency medical services system support projects, the statewide trauma care system program and the emergency medical dispatch agency support program;

b r e t º o t n = .227766.1AIC February 7, 2024 (12:15pm) s k m e - 3 - e a n e d r e l u [ A d STBTC/SB 151 for emergency medical services system improvement projects, including the purchase of emergency medical services vehicles, local and statewide emergency medical services system support projects, the statewide trauma care system program and the emergency medical dispatch agency support program;

In any fiscal year, money in the fund that is not distributed pursuant to the provisions of Subsection D of this section may be distributed pursuant to the provisions of Subsection C of this section." SFCº SECTION 3.

APPROPRIATION.--Twenty-twoEFFECTIVE millionDATE.--The dollarseffective ($22,000,000)date isof appropriated from the generalprovisions fundof toSections the1 emergency medical services fund for expenditure in fiscal year 2025 and subsequent2 fiscalof yearsthis toact carryis outJuly the1, purposes2025. h u of the fund.

AnySTBTC/SB unexpended151 orPage unencumbered3 balance25 remaining » r t h at the end of a fiscal year shall not revert to the general g e l i fund.»SFC h r i s h , SECTION SFCº 4.»SFC SFCº3.»SFC EFFECTIVE DATE.--The e h t u g effective date of the provisions of Sections 1 and 2 of this e b l e e , gh act is July 1, 2025.

n d d i = = o h l ] b ,d - 4 - i a º r e r = t e w d m a n o d m :

b r e t º o t n = .227766.1AIC February 7, 2024 (12:15pm) s k m e e a n e d r e l u [ A d