SENATE BILL 629

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Carlos R. Cisneros

AN ACT

RELATING TO STATE REVENUE; CREATING THE LOCAL GOVERNMENT GAMING IMPACT FUND; PROVIDING A DISTRIBUTION TO LOCAL GOVERNMENTS IN WHICH ARE LOCATED INDIAN CASINOS; MAKING AN APPROPRIATION.

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

     Section 1. LOCAL GOVERNMENT GAMING IMPACT FUND--DISTRIBUTION.--

          A. The "local government gaming impact fund" is created in the state treasury. The fund consists of appropriations, gifts, grants, donations and bequests made to the fund. Income from the fund shall be credited to the fund, and money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year. Money in the fund is appropriated to the local government division of the department of finance and administration for the purpose of making distributions pursuant to Subsection B of this section. Expenditures from the fund shall be made on warrant of the secretary of finance and administration on vouchers signed by the director of the local government division of the department of finance and administration.

          B. No later than July 31 of each year, the director of the local government division of the department of finance and administration shall make a distribution of the balance of the local government gaming impact fund to each county or municipality in which is located an Indian casino. The distributions shall be made pursuant to the rules of the local government division and the following criteria:

                (1) if the casino is located within the planning and platting jurisdiction of a municipality, the distribution attributable to that casino shall be made to the municipality's general fund;

                (2) if the casino is not located within the planning and platting jurisdiction of a municipality, the distribution attributable to that casino shall be made to the county's general fund; and

                (3) the amount of a distribution attributable to an Indian casino shall be the same proportion of the balance of the local government gaming impact fund as the revenue paid into the general fund during the previous fiscal year from that casino pursuant to a revenue sharing agreement is to revenue paid into the general fund during that year from all casinos pursuant to revenue sharing agreements.

          C. On July 1 of each year, an amount equal to ten percent of all revenue paid into the general fund during the previous fiscal year pursuant to revenue sharing agreements entered into under Section 11-13-2 NMSA 1978 shall be transferred to the local government gaming impact fund.

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