§ 7-1-6-69

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the health care affordability fund in an amount equal to the following amounts 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: A. prior to July 1, 2024, fifty-five percent;B. beginning July 1, 2024 and prior to September 1, 2025, thirty percent; andC. beginning September 1, 2025, fifty-five percent.History: Laws 2021, ch. 136, § 1; 2024, ch. 32, § 1. ANNOTATIONSThe 2024 amendment, effective July 1, 2024, continued distributions to the health care affordability fund, decreased the distribution amount to thirty percent of the net receipts attributable to the health insurance premium surtax between July 1, 2024 and September 1, 2025, and increased the distribution back to fifty-five percent of the net receipts attributable to the health insurance premium surtax beginning September 1, 2025; and added new Subsections A through C.