1. A. 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:

   1. (1) beginning September 1, 2025 and prior to September 1, 2027, fifty-five percent;
   2. (2) beginning September 1, 2027 and prior to September 1, 2028, eighty percent; and
   3. (3) beginning September 1, 2028, ninety-five percent.
2. B. Beginning September 1, 2028, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the behavioral health program fund in an amount equal to five percent 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.

History: Laws 2021, ch. 136, § 1; 2024, ch. 32, §; 2026, ch. 39, § 1.

ANNOTATIONS

The 2026 amendment, effective May 20, 2026, increased the distribution of the health insurance premium surtax to the health care affordability fund from the current fifty-five percent to eighty percent of the net receipts starting on September 1, 2027, and ninety-five percent of the net receipts starting September 1, 2028, and distributed the remaining five percent to the behavioral health program fund beginning on September 1, 2028; in the section heading, after "health care affordability fund" added "behavioral health program fund"; after the section heading, added new subsection designation "A"; deleted former Subsections A and B and redesignated former Subsection C as Paragraphs A(1), and in Paragraph A(1), after "September 1, 2025" added "and prior to September 1, 2027", and added new Paragraphs A(2) and A(3); and added a new Subsection B.

The 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.