2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 53: Fire Protection Fund, 59A-53-1 through 59A-53-19
Section 59A-53-5.2: Appropriations and transfers from the fire protection fund.

59A-53-5.2. Appropriations and transfers from the fire protection fund.

A. For each fiscal year, the amount to be distributed by the marshal pursuant to Sections 59A-53-4, 59A-53-5 and 59A-53-5.1 NMSA 1978 is appropriated from the fire protection fund to the commission for the purpose of making the distributions.

B. For the purposes of Subsections C and D of this section, the "remaining balance in the fire protection fund" shall be calculated on June 30 of each year and shall equal the balance of the fund on that date less the sum of:

(1) the total amount to be distributed during the succeeding fiscal year pursuant to Sections 59A-53-4, 59A-53-5 and 59A-53-5.1 NMSA 1978; and

(2) the total amount of other appropriations from the fire protection fund for the succeeding fiscal year.

C. On the following dates, the following percentages of the remaining balance in the fire protection fund shall be transferred from the fire protection fund to the fire protection grant fund:

(1) on June 30, 2007, six and seven-tenths percent;

(2) on June 30, 2008, thirteen and four-tenths percent;

(3) on June 30, 2009, thirteen and four-tenths percent;

(4) on June 30, 2010, thirteen and four-tenths percent;

(5) on June 30, 2011, thirteen and four-tenths percent;

(6) on June 30, 2012, thirteen and four-tenths percent;

(7) on June 30, 2013, twenty and one-tenth percent;

(8) on June 30, 2014, twenty-six and eight-tenths percent;

(9) on June 30, 2015, thirty-three and five-tenths percent;

(10) on June 30, 2016, forty and two-tenths percent;

(11) on June 30, 2017, forty-six and nine-tenths percent;

(12) on June 30, 2018, fifty-three and six-tenths percent;

(13) on June 30, 2019, sixty and three-tenths percent;

(14) on June 30, 2020, sixty-seven percent;

(15) on June 30, 2021, seventy-three and seven-tenths percent;

(16) on June 30, 2022, eighty and four-tenths percent;

(17) on June 30, 2023, eighty-seven and one-tenth percent;

(18) on June 30, 2024, ninety-three and eight-tenths percent; and

(19) on June 30, 2025, and on each subsequent June 30, one hundred percent.

D. On June 30 of each year, the remaining balance in the fire protection fund, less the amount to be transferred on that date pursuant to Subsection C of this section, shall be transferred to the general fund; provided that no transfer shall be made pursuant to this subsection after June 30, 2024.