Public-domain · open source
OpenJurist

§ 7-1-6.62 NMSA 1978

Distribution; premium tax

Known as the Tax Administration Act

The act spans §§ 7–7 (198 sections).

Laws 2019, ch. 47, § 2; 2023, ch. 182, § 1; 2024, ch. 27, § 1.

A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the law enforcement protection fund in an amount equal to ten percent of the net receipts attributable to the premium tax from life, health, general casualty and title insurance business.

B. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the fire protection fund of the net receipts attributable to the premium tax derived from property and vehicle insurance business.

C. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the emergency medical services fund in an amount equal to five percent of the net receipts attributable to the premium tax from health insurance business.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.