summary
Introduced
01/16/2024
01/16/2024
In Committee
02/13/2024
02/13/2024
Crossed Over
02/08/2024
02/08/2024
Passed
02/14/2024
02/14/2024
Dead
Signed/Enacted/Adopted
03/01/2024
03/01/2024
Introduced Session
2024 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; AMENDING A DISTRIBUTION TO THE HEALTH CARE AFFORDABILITY FUND.
AI Summary
This bill amends the distribution of revenue from the health insurance premium surtax to the Health Care Affordability Fund. Prior to July 1, 2024, 55% of the net receipts from the surtax will be distributed to the fund. From July 1, 2024 to September 1, 2025, the distribution will be reduced to 30%, and then increase back to 55% starting September 1, 2025. The bill also specifies that if the surtax rate is reduced, no distribution to the fund will be made.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (4)
Last Action
Signed by Governor - Chapter 32 - Mar. 1 (on 03/01/2024)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=7&year=24 |
| BillText | https://www.nmlegis.gov/Sessions/24%20Regular/final/HB0007.pdf |
| BillText | https://www.nmlegis.gov/Sessions/24%20Regular/bills/house/HB0007.pdf |
Loading...