summary
Introduced
02/01/2021
02/01/2021
In Committee
03/17/2021
03/17/2021
Crossed Over
03/04/2021
03/04/2021
Passed
03/19/2021
03/19/2021
Dead
Signed/Enacted/Adopted
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; AMENDING CERTAIN DISTRIBUTIONS OF CIGARETTE TAX REVENUE; AUTHORIZING THE ISSUANCE OF REVENUE BONDS; MAKING APPROPRIATIONS AUTHORIZING THE NEW MEXICO FINANCE AUTHORITY TO ISSUE CERTAIN ADDITIONAL REVENUE BONDS FOR THE UNIVERSITY OF NEW MEXICO HOSPITAL AND THE COMPREHENSIVE CANCER CENTER AT THE UNIVERSITY OF NEW MEXICO HEALTH SCIENCES CENTER; CORRECTING INCORRECT REFERENCES TO CERTAIN LAWS CAUSED BY THE PARTIAL VETO OF LAWS 2010 (2ND S.S.), CHAPTER 5, SECTION 1; MAKING APPROPRIATIONS.
AI Summary
This bill amends the distribution of cigarette tax revenue in New Mexico. It authorizes the New Mexico Finance Authority to issue revenue bonds up to $82 million for the University of New Mexico Hospital and Comprehensive Cancer Center, and up to $15 million for additional improvements to the cancer center. The bill specifies that cigarette tax proceeds will be used to pay the principal, interest, and expenses on these bonds, and any excess funds will be transferred to the University of New Mexico Health Sciences Center for its comprehensive cancer center programs. The bill also creates a credit enhancement account within the Finance Authority to provide additional security for these bonds and other Department of Health facilities.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (2)
Last Action
Signed by Governor - Chapter 72 - Apr. 6 (on 03/20/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=223&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/final/SB0223.pdf |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0223.pdf |
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