summary
Introduced
01/31/2021
01/31/2021
In Committee
03/12/2021
03/12/2021
Crossed Over
03/02/2021
03/02/2021
Passed
03/19/2021
03/19/2021
Dead
Signed/Enacted/Adopted
03/19/2021
03/19/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO THE TOBACCO SETTLEMENT PERMANENT FUND; REQUIRING THE REMAINING FIFTY PERCENT OF DISTRIBUTIONS TO THE TOBACCO SETTLEMENT PERMANENT FUND FOR FISCAL YEAR 2022 TO BE DISTRIBUTED TO THE TOBACCO SETTLEMENT PROGRAM FUND.
AI Summary
This bill amends the law regarding the Tobacco Settlement Permanent Fund. It requires the remaining 50% of distributions to the fund for fiscal year 2022 to be distributed to the Tobacco Settlement Program Fund instead. The Tobacco Settlement Permanent Fund is a reserve fund of the state that can be used to avoid an unconstitutional deficit in the general fund or as authorized by other laws. The annual distribution from the Tobacco Settlement Permanent Fund to the Tobacco Settlement Program Fund is generally set at 50% of the total amount distributed to the Permanent Fund, with some exceptions in certain fiscal years.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (1)
Last Action
Signed by Governor - Chapter 60 - Apr. 5 (on 03/19/2021)
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=187&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/final/SB0187.pdf |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0187.pdf |
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