2019 New Mexico Statutes
Chapter 7 - Taxation
Article 2H - Native American Veterans' Income Tax Settlement Fund
Section 7-2H-3 - Native American veterans' income tax settlement fund; created; purpose; appropriations.

A. The "Native American veterans' income tax settlement fund" is created as a nonreverting fund in the state treasury and shall be administered by the taxation and revenue department. The fund shall consist of money that is appropriated or donated or that otherwise accrues to the fund.

B. The taxation and revenue department shall establish procedures and adopt rules as required to administer the fund and to make settlement payments from the fund as approved by the secretary of taxation and revenue.

C. Money in the fund is appropriated to the taxation and revenue department to make settlement payments to Native American veterans who were domiciled within the boundaries of their tribal lands or their spouse's tribal lands during the period of their active military duty and had state personal income taxes withheld from their military income, or to their heirs pursuant to applicable law. Settlement payments shall include the amount of state personal income taxes withheld from eligible Native American veterans that have not been previously refunded to the veterans and interest on the amount withheld from the date of withholding computed on a daily basis at the rate specified for individuals pursuant to Section 6621 of the Internal Revenue Code of 1986. No settlement payments shall be made for any taxable year for which a refund claim may be timely filed with the taxation and revenue department. Money shall be disbursed from the fund only on warrant of the secretary of finance and administration upon vouchers signed by the secretary of taxation and revenue or the secretary's authorized representative. Any unexpended or unencumbered balance remaining in the fund at the end of a fiscal year shall not revert to the general fund.

D. Beginning in fiscal year 2010 and in subsequent fiscal years, not more than five percent of the fund is appropriated from the fund to the taxation and revenue department for expenditure in the fiscal year in which it is appropriated to administer the fund. Any unexpended or unencumbered balance remaining at the end of any fiscal year shall revert to the Native American veterans' income tax settlement fund.

E. Beginning in fiscal year 2010 and in subsequent fiscal years, not more than five percent of the fund is appropriated from the fund to the veterans' services department for expenditure in the fiscal year in which it is appropriated to assist in outreach and public relations and in determining eligibility for settlement payments. Any unexpended or unencumbered balance remaining at the end of any fiscal year shall revert to the Native American veterans' income tax settlement fund.

History: Laws 2008, ch. 89, § 3; 2009, ch. 289, § 3; 2018, ch. 52, § 1.

The 2018 amendment, effective May 16, 2018, removed the time limit for filing an application for a settlement claim from the Native American veterans' income tax settlement fund; in Subsection C, after "timely filed with the taxation and revenue department", deleted "or for which an application for settlement is received after December 31, 2012"; in Subsection D, after "shall revert to the", added "Native American veterans' income tax settlement"; and in Subsection E, after "shall revert to the", added "Native American veterans' income tax settlement".

The 2009 amendment, effective June 19, 2009, in Subsection A, deleted the last sentence, which provided for investment of money in the fund by the state investment council; in Subsection C, in the first sentence, between "Native American veterans who" and "and the state personal income tax", added new language; added the second and third sentences; and added Subsections D and E.