SB 197 — EMS SYSTEM IMPROVEMENT PROJECTS FUNDING

"gross receipts tax revenue" means the i a e r 20 amount of money distributed to a municipality pursuant to a t m m 21 Section 7-1-6.4 NMSA 1978 and transferred to a municipality d r e 22 pursuant to Section 7-1-6.12 NMSA 1978 for any municipal gross c e s k 23 receipts tax imposed pursuant to the Municipal Local Option e a n b 24 Gross Receipts and Compensating Taxes Act;

u [ [E.] F.

"gross receipts tax revenue bonds" means .229220.3 - 7 - the bonds authorized by Subsection D of Section 3-31-1 NMSA 1978;

[F.] G.

[G.] H.

"pledged revenues" means the revenues, net income or net revenues authorized to be pledged to the SB 197 Page 7 payment of revenue bonds as specifically provided in Chapter 3, Article 31 NMSA 1978;

[H.] I.

and [I.] J.

Section 4-62-1 NMSA 1978 (being Laws 1992, Chapter 95, Section 1, as amended by Laws 2019, Chapter 210, e t 17 Section 1 and by Laws 2019, Chapter 274, Section 4) is amended w l n d 18 to read:

= = 19 a l "4-62-1.

REVENUE BONDS--AUTHORITY TO ISSUE--PLEDGE OF i a e r 20 REVENUES--LIMITATION ON TIME OF ISSUANCE.-- a t m m 21 A.

In addition to any other law authorizing a d r e 22 county to issue revenue bonds, a county may issue revenue bonds c e s k 23 pursuant to Chapter 4, Article 62 NMSA 1978 for the purposes e a n b 24 specified in this section.

u [ B.

Gross receipts tax revenue bonds may be issued .229220.3 - 8 - for any county purpose.

If the revenue is pledged for payment of principal and interest as authorized by this SB 197 Page 8 subsection, the pledge shall require the revenues received to be deposited into a special bond fund for payment of the principal, interest and expenses.

The governing body of the county may appoint e t 17 a commercial bank trust department to act as trustee of the w l n d 18 proceeds of the tax and to administer the payment of principal = = 19 a l of and interest on the bonds.

i a e r 20 C.

Gasoline tax revenue bonds may be issued for the a t m m 21 acquisition of rights of way for and the construction, d r e 22 reconstruction, resurfacing, maintenance, repair or other c e s k 23 improvement of county roads and bridges.

A county may pledge e a n b 24 irrevocably any or all of the county gasoline tax revenue for u [ payment of principal and interest due in connection with, and .229220.3 - 9 - other expenses related to, county gasoline tax revenue bonds.

A county may pledge irrevocably any or all of the net revenues SB 197 Page 9 from the operation of the utility or joint utility for which the particular utility or joint utility bonds are issued to the payment of principal and interest due in connection with, and other expenses related to, utility or joint utility revenue bonds.

Project revenue bonds may be issued for acquiring, extending, enlarging, bettering, repairing, improving, constructing, purchasing, furnishing, equipping or rehabilitating any revenue-producing project, including, as applicable, purchasing, otherwise acquiring or improving the e t 17 ground for the project and acquiring and improving parking w l n d 18 lots.

The county may pledge irrevocably any or all of the net = = 19 a l revenues from the operation of the revenue-producing project i a e r 20 for which the particular project revenue bonds are issued to a t m m 21 the payment of the interest on and principal of the project d r e 22 revenue bonds.

The net revenues of any revenue-producing c e s k 23 project shall not be pledged to the project revenue bonds e a n b 24 issued for any other revenue-producing project that is clearly u [ unrelated in nature;

but nothing in this subsection prevents .229220.3 - 10 - the pledge to any of the project revenue bonds of the revenues received from existing, future or disconnected facilities and equipment that are related to and that may constitute a part of the particular revenue-producing project.

A general determination by the governing body that facilities or equipment is SB 197 Page 10 reasonably related to and constitutes a part of a specified revenue-producing project shall be conclusive if set forth in the proceedings authorizing the project revenue bonds.

The county may pledge irrevocably any or all of the revenues received by the fire district from the fire protection fund as provided in the Fire Protection Fund e t 17 Law and any or all of the revenues provided for the operation w l n d 18 of the fire district project for which the particular bonds are = = 19 a l issued to the payment of the interest on and principal of the i a e r 20 bonds.

The revenues of a fire district project shall not be a t m m 21 pledged to the bonds issued for a fire district project that d r e 22 clearly is unrelated in its purpose;

but nothing in this c e s k 23 section prevents the pledge to such bonds of revenues received e a n b 24 from existing, future or disconnected facilities and equipment u [ that are related to and that may constitute a part of the .229220.3 - 11 - particular fire district project.

A general determination by the governing body of the county that facilities or equipment is reasonably related to and constitutes a part of a specified fire district project shall be conclusive if set forth in the proceedings authorizing the SB 197 Page 11 fire district revenue bonds.

PILT revenue bonds may be issued by a county to repay all or part of the principal and interest of an outstanding loan owed by the county to the New Mexico finance e t 17 authority.

A county may pledge irrevocably all or part of PILT w l n d 18 revenue to the payment of principal of and interest on new = = 19 a l loans or preexisting loans provided by the New Mexico finance i a e r 20 authority to finance a public project.

a t m m 21 I.

Emergency medical services bonds may be issued d r e 22 for the purchase of equipment for emergency medical system c e s k 23 improvement projects or emergency medical services vehicles for e a n b 24 which funding has been granted pursuant to the Emergency u [ Medical Services Fund Act.

The county may pledge irrevocably .229220.3 - 12 - any or all of the revenues received by the county from the emergency medical services fund distributions pursuant to the Emergency Medical Services Fund Act to the payment of the interest on and principal of the emergency medical services SB 197 Page 12 bonds.

[I.] J.

e t 17 [J.] K.

No bonds may be issued by a county, other w l n d 18 than an H class county, a class B county as defined in Section = = 19 a l 4-36-8 NMSA 1978 or a class A county as described in Section i a e r 20 4-36-10 NMSA 1978, to acquire, equip, extend, enlarge, better, a t m m 21 repair or construct a utility unless the utility is regulated d r e 22 by the public regulation commission pursuant to the Public c e s k 23 Utility Act and the issuance of the bonds is approved by the e a n b 24 commission.

u [ [K.] L.

Any law that imposes or authorizes the .229220.3 - 13 - imposition of a tax authorized by the County Local Option Gross Receipts and Compensating Taxes Act or that affects that tax shall not be repealed or amended in such a manner as to impair outstanding revenue bonds that are issued pursuant SB 197 Page 13 to Chapter 4, Article 62 NMSA 1978 and that may be secured by a pledge of the tax unless the outstanding revenue bonds have been discharged in full or for which provision has been fully made." SECTION 4.

e t 17 B.

"emergency medical services bonds" means the w l n d 18 bonds authorized by Subsection I of Section 4-62-1 NMSA 1978;

= = 19 a l [B.] C.

"gasoline tax revenue" means the revenue i a e r 20 from that portion of the gasoline tax distributed to the county a t m m 21 pursuant to Sections 7-1-6.9 and 7-1-6.26 NMSA 1978;

d r e 22 [C.] D.

"gasoline tax revenue bonds" means the c e s k 23 bonds authorized by Subsection C of Section 4-62-1 NMSA 1978;

e a n b 24 [D.] E.

"gross receipts tax revenue" means the u [ revenue attributable to the county gross receipts tax .229220.3 - 14 - transferred to the county pursuant to Section 7-1-6.13 NMSA 1978 and any distribution made pursuant to Section 7-1-6.16 NMSA 1978;

[E.] F.

"gross receipts tax revenue bonds" means the SB 197 Page 14 bonds authorized by Subsection B of Section 4-62-1 NMSA 1978;

[F.] G.

[G.] H.

[H.] I.

"project revenues" means the net revenues of revenue-producing projects that may be pledged to project revenue bonds pursuant to Subsection E of Section 4-62-1 NMSA e t 17 1978;

w l n d 18 [I.] J.

"public project" means "public project" as = = 19 a l defined in Subsection E of Section 6-21-3 NMSA 1978;

i a e r 20 [J.] K.

"utility" means a water, wastewater, sewer, a t m m 21 gas or electric utility or joint utility servicing the public;

d r e 22 and c e s k 23 [K.] L.

"utility revenue bonds" or "joint utility e a n b 24 revenue bonds" means the bonds authorized by Subsection D of u [ Section 4-62-1 NMSA 1978." .229220.3 - 15 - SECTION 5.

The "emergency medical services fund" is SB 197 Page 15 created in the state treasury.

The bureau shall administer the fund and provide for the distribution of the fund pursuant to the Emergency e t 17 Medical Services Fund Act and rules adopted pursuant to the w l n d 18 provisions of that act.

= = 19 a l C.

In any fiscal year, no less than seventy-five i a e r 20 percent of the money in the fund shall be used for the local a t m m 21 emergency medical services funding program to support the cost d r e 22 of supplies and equipment and operational costs other than c e s k 23 salaries and benefits for emergency medical services personnel.

e a n b 24 This money shall be distributed to municipalities and counties u [ on behalf of eligible local recipients, using a formula .229220.3 - 16 - established pursuant to rules adopted by the department.

The formula shall also base the distribution of money for each SB 197 Page 16 municipality and county on the relative number of runs of each local recipient eligible to participate in the distribution.

and (2) three percent of the fund may be used by the bureau for administrative costs, including monitoring and e t 17 providing technical assistance.

w l n d 18 E.

[In any fiscal year, money in the fund that is = = 19 a l not distributed pursuant to the provisions of Subsection D of i a e r 20 this section may be distributed pursuant to the provisions of a t m m 21 Subsection C of this section] The state treasurer is authorized d r e 22 to redirect a distribution to the New Mexico finance authority c e s k 23 to make loans for purchases authorized pursuant to the e a n b 24 Emergency Medical Services Fund Act and by ordinance or u [ resolution passed by the municipality or county and a written .229220.3 - 17 - agreement of the municipality or county and the New Mexico finance authority." SECTION 6.

-SB 18197 -Page 9 11 13 15 e t 17 w l n d 18 = = 19 a l i a e r 20 a t m m 21 d r e 22 c e s k 23 e a n b 24 u [ .229220.3