0001|                            SENATE BILL 59
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                          BILLY J. McKIBBEN
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO TAXATION; INCREASING THE RATE OF THE CIGARETTE
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0012|     TAX; DISTRIBUTING ADDITIONAL REVENUES TO THE CANCER CENTER AND
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0013|     TO THE MEDICAL TRUST FUND FOR CANCER AND OTHER MEDICAL
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0014|     RESEARCH AT THE UNIVERSITY OF NEW MEXICO; AMENDING SECTIONS OF
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0015|     THE NMSA 1978; MAKING AN APPROPRIATION.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  Section 7-1-6.11 NMSA 1978 (being Laws 1983,
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0019|     Chapter 211, Section 16, as amended) is amended to read:
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0020|          "7-1-6.11.  DISTRIBUTIONS OF CIGARETTE TAXES.--
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0021|               A.  A distribution pursuant to Section 7-1-6.1 NMSA
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0022|     1978 shall be made to the county and municipality recreational
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0023|     fund in an amount equal to <s>[four and three-quarters]</s> <u>three
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<u></u>0024| <u>    and eighty-nine hundredths</u> percent of the net receipts,
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0025|     exclusive of penalties and interest, attributable to the
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0001|     cigarette tax.
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0002|               B.  A distribution pursuant to Section 7-1-6.1 NMSA
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0003|     1978 shall be made to the county and municipal cigarette tax
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0004|     fund in an amount equal to <s>[nine and one-half]</s> <u>seven and
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<u></u>0005| <u>    seventy-eight hundredths</u> percent of the net receipts,
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0006|     exclusive of penalties and interest, attributable to the
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0007|     cigarette tax.
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0008|               C.  A distribution pursuant to Section 7-1-6.1 NMSA
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0009|     1978 shall be made to the cancer center at the university of
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0010|     New Mexico school of medicine in an amount equal to <s>[four and
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<s></s>0011| <s>    three-quarters]</s> <u>fourteen and seventy-seven hundredths</u>
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0012|     percent of the net receipts, exclusive of penalties and
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0013|     interest, attributable to the cigarette tax.
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0014|               D.  A distribution pursuant to Section 7-1-6.1 NMSA
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0015|     1978 shall be made to the New Mexico finance authority in an
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0016|     amount equal to <s>[seven and one-eighth]</s> <u>five and eighty-four
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<u></u>0017| <u>    hundredths</u> percent of the net receipts, exclusive of
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0018|     penalties and interest, attributable to the cigarette tax.
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0019|               <u>E.  A distribution pursuant to Section 7-1-6.1
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<u></u>0020| <u>    NMSA 1978 shall be made to the university of New Mexico school
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<u></u>0021| <u>    of medicine medical trust fund in an amount equal to seven and
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<u></u>0022| <u>    one-fourth percent of the net receipts, exclusive of penalties
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<u></u>0023| <u>    and interest, attributable to the cigarette tax.</u>"
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0024|          Section 2.  Section 7-12-3 NMSA 1978 (being Laws 1971,
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0025|     Chapter 77<u></u>, Section 3, as amended) is amended to read:
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0001|          "7-12-3.  EXCISE TAX ON CIGARETTES--RATES.--
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0002|               A.  For the privilege of selling, giving or
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0003|     consuming cigarettes in New Mexico, there is levied an excise
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0004|     tax at the rate of <s>[one and five-hundredths cents ($.0105)]</s>
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0005|     <u>one and three-tenths cents ($.013)</u> for each cigarette sold,
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0006|     given or consumed in this state.
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0007|               B.  The tax imposed by this section shall be
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0008|     referred to as the "cigarette tax"."
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0009|          Section 3.  Section 24-20-1 NMSA 1978 (being Laws 1993,
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0010|     Chapter 358, Section 3) is amended to read:
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0011|          "24-20-1.  MEDICAL TRUST FUND FOR CANCER AND OTHER
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0012|     MEDICAL RESEARCH--APPROPRIATION.--
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0013|               A.  There is created at the university of New
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0014|     Mexico school of medicine a "medical trust fund" to be
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0015|     administered by the school of medicine.  The fund shall
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0016|     consist of balances transferred to the fund from the dedicated
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0017|     health research fund and any other distributions, transfers
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0018|     and deposits that may be made to the fund.  Earnings from
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0019|     investment of the medical trust fund are appropriated to the
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0020|     university of New Mexico school of medicine for cancer and
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0021|     other medical research, <u>including research focusing on
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<u></u>0022| <u>    pulmonary, respiratory or other diseases that are or may be
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<u></u>0023| <u>    affected by the use of cigarettes</u>.
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0024|               B.  The university of New Mexico school of medicine
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0025|     shall report annually to the commission on higher education,
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0001|     the department of health and the legislative finance committee
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0002|     regarding the use of the earnings on the medical trust fund."
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0003|          Section 4.  EFFECTIVE DATE.--
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0004|               A.  The effective date of the provisions of Section
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0005|     1 of this act is August 1, 1998.
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0006|               B.  The effective date of the provisions of
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0007|     Sections 2 and 3 of this act is July 1, 1998.
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0008|                                  
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