The bill amends existing laws related to the Health Care Affordability Fund and the Behavioral Health Program Fund in New Mexico. It specifies the distribution percentages of net receipts from the health insurance premium surtax to these funds over a timeline starting from September 1, 2025. Specifically, it establishes that from September 1, 2025, to September 1, 2027, fifty-five percent of the net receipts will go to the Health Care Affordability Fund, increasing to eighty percent from September 1, 2027, to September 1, 2028, and finally reaching ninety-five percent starting September 1, 2028. Additionally, beginning September 1, 2028, five percent of the net receipts will be allocated to the Behavioral Health Program Fund.

Furthermore, the bill creates the Behavioral Health Program Fund, which will consist of various sources of income, including distributions, appropriations, and donations. The fund is intended to support services and programs related to behavioral health, such as mental health and substance misuse treatment, infrastructure, and workforce supports. A significant change in the bill is the requirement that any unexpended money in the Behavioral Health Program Fund at the end of a fiscal year must revert to the Health Care Affordability Fund, ensuring that funds are utilized effectively and efficiently.

Statutes affected:
introduced version: 7-1-6.69
AF substitute: 7-1-6.69
Final Version: 7-1-6.69, 24A-3-6