SENATE BILL 117

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Nancy Rodriguez

FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE

AN ACT

RELATING TO TAXATION; DISCONTINUING A COUNTY'S OBLIGATION TO DEDICATE AN AMOUNT EQUAL TO A GROSS RECEIPTS TAX RATE OF ONE-TWELFTH PERCENT TO THE SAFETY NET CARE POOL FUND AFTER DECEMBER 31, 2018.

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

     SECTION 1. Section 27-5-6.2 NMSA 1978 (being Laws 2014, Chapter 79, Section 16) is amended to read:

     "27-5-6.2. TRANSFER TO SAFETY NET CARE POOL FUND.--

          A. A county shall, by ordinance to be effective July 1, 2014 through December 31, 2018, dedicate to the safety net care pool fund an amount equal to a gross receipts tax rate of one-twelfth percent applied to the taxable gross receipts reported during the prior fiscal year by persons engaging in business in the county. For purposes of this subsection, a county may use public funds from any existing authorized revenue source of the county.

          B. A county enacting an ordinance pursuant to Subsection A of this section shall transfer to the safety net care pool fund by the last day of March, June, September and December of each year through December 31, 2018 an amount equal to one-fourth of the county's payment to the safety net care pool fund."

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