A. Beginning January 1, 2017 and prior to July 1, 2019, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the retiree health care fund in an amount equal to one-twelfth of the total amount distributed to the retiree health care fund beginning July 1, 2015 and prior to July 1, 2016.
B. Beginning July 1, 2019, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the retiree health care fund in an amount equal to one-twelfth of one hundred twelve percent of the total amount distributed to the retiree health care fund in the previous fiscal year.
History: 1978 Comp., § 7-1-6.30, enacted by Laws 1990, ch. 6, § 20; 1992, ch. 55, § 7; 2001, ch. 335, § 1; 2016 (2nd S.S.), ch. 1, § 1.
ANNOTATIONSCross references. — For retiree health care fund, see 10-7C-8 NMSA 1978.
The 2016 (2nd S.S.) amendment, effective October 7, 2016, temporarily suspended the growth of certain distributions to the retiree health care fund; after the catchline, deleted "For the period ending June 30, 2002, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the retiree health care fund in an amount equal to one-twelfth of one hundred six percent of the total amount distributed to the retiree health care fund in the previous fiscal year. For the fiscal year beginning July 1, 2002 and subsequent fiscal years" and added new Subsection A; added the new subsection designation "B" and in Subsection B, after the subsection designation, added "Beginning July 1, 2019".
The 2001 amendment, effective June 15, 2001, substituted "period ending June 30, 2002" for "eighty-first and subsequent fiscal years"; and added the last sentence.
The 1992 amendment, effective July 1, 1992, rewrote this section to the extent that a detailed comparison would be impracticable.