SENATE BILL 501

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Timothy Z. Jennings

AN ACT

RELATING TO INSURANCE; CHANGING THE APPLICABILITY DATE OF CERTAIN PROVISIONS OF THE PREMIUM TAX.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Laws 2003, Chapter 58, Section 3 is amended to read:

     "Section 3. APPLICABILITY.--The provisions of [this act] Laws 2003, Chapter 58, Section 1 apply to premiums received in the 2003 and subsequent calendar years; provided, however, that with respect to premiums received prior to March 20, 2003, the provisions of Subsection E of Section 59A-6-2 NMSA 1978 in effect prior to the effective date of Laws 2003, Chapter 58, Section 1 shall be applicable."

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