HOUSE BILL 196

55th legislature - STATE OF NEW MEXICO - second session, 2022

INTRODUCED BY

Randall T. Pettigrew and Rebecca Dow and Stefani Lord and Ambrose Castellano

 

 

 

 

AN ACT

RELATING TO PUBLIC SAFETY; PROVIDING THAT THE LAW ENFORCEMENT PROTECTION FUND SHALL NOT REVERT TO THE GENERAL FUND.

 

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

     SECTION 1. Section 29-13-3 NMSA 1978 (being Laws 1983, Chapter 289, Section 3, as amended) is amended to read:

     "29-13-3. DISTRIBUTION OF CERTAIN INSURANCE COLLECTIONS--LAW ENFORCEMENT PROTECTION FUND CREATED.--There is created in the state treasury the "law enforcement protection fund". Ten percent of all money received for fees, licenses and penalties from life, general casualty and title insurance business pursuant to the New Mexico Insurance Code shall be paid monthly to the state treasurer and credited to the fund. [On or before June 30 of each year, the state treasurer shall transfer to the general fund any balance in the law enforcement protection fund in excess of one hundred thousand dollars ($100,000) that is not obligated for expenses in that current fiscal year] Money in the fund shall not revert to the general fund at the end of a fiscal year."

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