HB 1238

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AN ACT

RELATING TO MILITARY AFFAIRS; CLARIFYING THAT MONEY IN THE

SERVICE MEMBERS' LIFE INSURANCE REIMBURSEMENT FUND DOES NOT

REVERT.

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

Section 1. Section 20-4-7.3 NMSA 1978 (being Laws 2005,

Chapter 2, Section 2) is amended to read:

"20-4-7.3. SERVICE MEMBERS' LIFE INSURANCE

REIMBURSEMENT FUND CREATED--PURPOSE--APPROPRIATION.--

A. The "service members' life insurance

reimbursement fund" is created as a nonreverting fund in the

state treasury. The fund shall consist of legislative

appropriations to the fund; gifts, grants, donations and

bequests to the fund; and income from investment of the fund.

Expenditures from the fund shall be made on warrants drawn by

the secretary of finance and administration signed by the

adjutant general of the department of military affairs or the

adjutant general's authorized representative.

B. The fund shall be administered by the

department of military affairs, and money in the fund is

appropriated to the department of military affairs for the

purpose of reimbursing eligible members of the New Mexico

national guard for premiums paid for benefits under the

servicemembers' group life insurance program pursuant to

38 U.S.C. Section 1965 et seq., as amended.

C. The department of military affairs shall adopt

rules necessary to determine eligibility for reimbursement

from the service members' life insurance reimbursement fund

and to implement a reimbursement program.

D. Nothing in this section is intended to alter,

amend or change the eligibility or applicability of the

servicemembers' group life insurance program pursuant to

38 U.S.C. Section 1965 et seq., as amended, or any rights,

responsibilities or benefits thereunder."

HB 1238

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