HOUSE BILL 18

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Dennis J. Kintigh

AN ACT

RELATING TO REVENUE; INCREASING STATE LEGISLATOR CONTRIBUTIONS TO THE STATE LEGISLATOR RETIREMENT PLAN; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 10-11-43.4 NMSA 1978 (being Laws 2003, Chapter 85, Section 10) is amended to read:

     "10-11-43.4. STATE LEGISLATOR MEMBER COVERAGE PLAN 2--MEMBER CONTRIBUTION RATE.--A member under state legislator member coverage plan 2 shall contribute an amount equal to [five hundred dollars ($500)] six hundred dollars ($600) for each year of credited service less the amount of any prior contributions made by the member for that credited service."

     SECTION 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.