2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 53 - Fire Protection Fund
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 superintendent for the purpose of making the following distributions:
(1) the total amount to be distributed during the fiscal year pursuant to Sections 59A-53-4, 59A-53-5 and 59A-53-5.1 NMSA 1978;
(2) the total amount of other appropriations from the fire protection fund for the fiscal year;
(3) on June 30, 2017, no distribution shall be made to the fire protection grant fund; and
(4) beginning in fiscal year 2019, periodic allotments not to exceed forty and two-tenths percent of the projected remaining balance in the fire protection fund shall be distributed to the fire protection grant fund.
B. On June 30 of each year, the remaining balance in the fire protection fund shall be transferred to the general fund.
History: Laws 2007, ch. 152, 1; 2009, ch. 3, 6; 2010, ch. 52, 1; 2011, ch. 164, 1; 2016 (2nd S.S.), ch. 1, 2; 2017, ch. 1, 5.
