SENATE BILL 286

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Pete Campos

AN ACT

RELATING TO INSURANCE; CREATING THE FOREST WORKERS' COMPENSATION FUND; MAKING AN APPROPRIATION.

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

     Section 1. TEMPORARY PROVISION--FOREST WORKERS' COMPENSATION FUND CREATED.--The "forest workers' compensation fund" is created in the state treasury. The fund consists of appropriations made to the fund. Money in the fund at the end of fiscal year 2009 shall revert to the general fund. The insurance division of the public regulation commission shall administer the fund, and money in the fund is appropriated to reduce workers' compensation premiums for safety-certified forest workers. Money in the fund shall be disbursed on warrants signed by the secretary of finance and administration pursuant to vouchers signed by the superintendent of insurance or the superintendent's authorized representative.

     Section 2. APPROPRIATION.--Four million two hundred thousand dollars ($4,200,000) is appropriated from the general fund to the forest workers' compensation fund for expenditure in fiscal years 2007 through 2009 to reduce workers' compensation premiums required for safety-certified forest workers. Any unexpended or unencumbered balance remaining at the end of fiscal year 2009 shall revert to the general fund.

     Section 3. DELAYED REPEAL.--Section 1 of this act is repealed effective July 1, 2009.

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