45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO COUNTIES; CHANGING THE DISTRIBUTION FROM THE SMALL COUNTIES ASSISTANCE FUND.

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

Section 1. Section 4-61-3 NMSA 1978 (being Laws 1982, Chapter 44, Section 3, as amended) is amended to read:

"4-61-3. SMALL COUNTIES ASSISTANCE FUND--DISTRIBUTION.--

A. The "small counties assistance fund" is created within the state treasury.

B. On [July 1, 1982 and on] July 1 of each year [thereafter], the local government division of the department of finance and administration shall certify to the state treasurer the population of the state and the population of each county in the state.

C. On [September 1, 1982 and on] September 1 of each year [thereafter], the local government division of the department of finance and administration shall certify to the state treasurer the revenue amounts received by each qualifying county in the fiscal year ended on the preceding June 30 from property taxes for general county purposes imposed under the Property Tax Code and taxes imposed under the Oil and Gas Ad Valorem Production Tax Act, the Oil and Gas Production Equipment Ad Valorem Tax Act and the Copper Production Ad Valorem Tax Act for general county purposes.

D. On or before [September l5, l982 and on or before] September l5 of each year [thereafter], the state treasurer shall distribute to each qualifying county from the small counties assistance fund an amount certified to him by the director of the local government division of the department of finance and administration. The distribution to a qualifying county shall be an amount equal to the amount by which the product of multiplying a county's population by twenty-five dollars ($25.00) exceeds thirty percent of the total of the revenue amounts certified for that county under Subsection C of this section, subject to the following:

(1) if the calculated distribution for a class C or first class county exceeds two hundred thousand dollars ($200,000), it shall be reduced to two hundred thousand dollars ($200,000);

(2) if the calculated distribution for a class B county exceeds one hundred fifty thousand dollars ($150,000), it shall be reduced to one hundred fifty thousand dollars ($150,000);

(3) if the calculated distribution for a first class county is:

(a) zero or less than zero or that county has a population of not more than twelve thousand five hundred, it shall be two hundred thousand dollars ($200,000); or

(b) greater than zero but less than two hundred thousand dollars ($200,000), it shall be increased to two hundred thousand dollars ($200,000);

(4) if the calculated distribution for a class C county is greater than zero but less than two hundred thousand dollars ($200,000) or that county has a population of not more than twelve thousand five hundred, it shall be increased to two hundred thousand dollars ($200,000); and

(5) if the calculated distribution for a class B county is greater than zero but less than one hundred thousand dollars ($100,000) or that county has a population of not more than [twelve] twenty thousand [five hundred], it shall be increased to one hundred thousand dollars ($100,000).

E. If the balance in the small counties assistance fund as of the preceding August 31 is less than the sum of the distributions to be made to qualifying counties, the director of the local government division of the department of finance and administration shall reduce each qualifying county's calculated distribution by a percentage computed by dividing the amount by which the fund is insufficient by the sum of all the calculated distributions and [he] shall certify the reduced amounts as the qualifying counties' distributions.

F. Any interest accruing from the temporary investment of the small counties assistance fund prior to September 15 shall be credited to the general fund.

G. Immediately after distribution to qualifying counties from the small counties assistance fund, but no later than September 20 of each year, the unexpended or unencumbered balance in the fund shall revert to the general fund."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2002.