HEALTH CARE AFFORDABILITY FUND DISTRIBUTIONS

Summary

The bill revises how much of the net receipts from the health‑insurance premium surtax are sent to New Mexico’s Health Care Affordability Fund. It phases the distribution from 55% before July 1 2024, down to 30% through mid‑2025, back up to 55% through 2026, and to 100% after September 1 2026, unless the surtax rate is lowered, in which case no money is sent. This affects state funding for health‑care cost‑relief programs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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