New Mexico 2025 Regular Session

New Mexico Senate Bill SB88 Compare Versions

Version 1 (Old)

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1		-	~~SB 88~~
2		-	~~Page 1~~
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	28	+	SENATE BILL 88
	29	+	57
	30	+	TH LEGISLATURE
	31	+	-
	32	+
	33	+	STATE
	34	+
	35	+	OF
	36	+
	37	+	NEW
	38	+
	39	+	MEXICO
	40	+
	41	+	-
	42	+	FIRST SESSION
	43	+	,
	44	+
	45	+	2025
	46	+	INTRODUCED BY
	47	+	George K. Muñoz and William E. Sharer and Pat Woods
28	48		AN ACT
29		-	RELATING TO PUBLIC FUNDS; CREATING THE MEDICAID TRUST FUND
30		-	AND THE STATE-SUPPORTED MEDICAID FUND; REQUIRING CERTAIN
31		-	BALANCES OF REVERTING FUNDS AND ACCOUNTS TO BE TRANSFERRED
32		-	FROM THE GENERAL FUND TO THE MEDICAID TRUST FUND.
	49	+	RELATING TO PUBLIC FUNDS; CREATING THE MEDICAID TRUST FUND AND
	50	+	THE STATE-SUPPORTED MEDICAID FUND; REQUIRING THE LEGISLATURE TO
	51	+	PROVIDE FOR THE TRANSFER OF REVERSIONS OF GENERAL APPROPRIATION
	52	+	ACT APPROPRIATIONS AND GENERAL FUND APPROPRIATIONS FOR CAPITAL
	53	+	OUTLAY PROJECTS TO THE MEDICAID TRUST FUND FOR A LIMITED TIME;
	54	+	REQUIRING CERTAIN INVESTMENT INCOME CREDITED TO THE GENERAL
	55	+	FUND TO BE CREDITED TO THE MEDICAID TRUST FUND FOR A LIMITED
	56	+	TIME; AMENDING CERTAIN SECTIONS OF LAWS 2021 THROUGH 2024 TO
	57	+	REQUIRE GENERAL FUND CAPITAL OUTLAY APPROPRIATIONS TO REVERT TO
	58	+	THE MEDICAID TRUST FUND; MAKING A TRANSFER FROM THE GENERAL
	59	+	FUND TO THE MEDICAID TRUST FUND.
33	60		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
34		-	SECTION 1. MEDICAID TRUST FUND.--
	61	+	SECTION 1. [NEW MATERIAL] MEDICAID TRUST FUND.--
35	62		A. The "medicaid trust fund" is created as a
36		-	nonreverting fund in the state treasury. The trust fund
37		-	consists of distributions, appropriations, gifts, grants and
38		-	donations. Income from investment of the trust fund shall be
39		-	credited to the trust fund. Money in the trust fund shall be
40		-	expended only as provided in this section.
41		-	B. The state investment officer shall invest money
42		-	in the trust fund in accordance with the prudent investor
43		-	rule as set forth in Chapter 6, Article 8 NMSA 1978 and in
44		-	consultation with the health care authority.
45		-	C. The state investment officer shall report
46		-	quarterly to the legislative finance committee and the state
47		-	investment council on the investments made pursuant to this
48		-	section. An annual report shall be submitted no later than
49		-	October 1 of each year to the legislative finance committee,
50		-	the revenue stabilization and tax policy committee and any
51		-	other appropriate interim committees. SB 88
52		-	Page 2
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	90	+	nonreverting fund in the state treasury. The trust fund
	91	+	consists of distributions, appropriations, gifts, grants and
	92	+	donations. Income from investment of the trust fund shall be
	93	+	credited to the trust fund. Money in the trust fund shall be
	94	+	expended only as provided in this section.
	95	+	B. The state investment officer shall invest money
	96	+	in the trust fund in accordance with the prudent investor rule
	97	+	as set forth in Chapter 6, Article 8 NMSA 1978 and in
	98	+	consultation with the health care authority.
	99	+	C. The state investment officer shall report
	100	+	quarterly to the legislative finance committee and the state
	101	+	investment council on the investments made pursuant to this
	102	+	section. An annual report shall be submitted no later than
	103	+	October 1 of each year to the legislative finance committee,
	104	+	the revenue stabilization and tax policy committee and any
	105	+	other appropriate interim committees.
78	106		D. On July 1, 2029 and each July 1 thereafter, a
79		-	distribution shall be made from the trust fund to the
80		-	~~state-~~supported medicaid fund in an amount equal to five
81		-	~~percent of~~ the average of the year-end market values of the
82		-	~~trust fund for~~ the immediately preceding three calendar
83		-	~~years; provided that a~~ distribution shall not be made until
84		-	~~the balance of the trust~~ fund at the end of a fiscal year is
85		-	~~at least five hundred~~ million dollars ($500,000,000).
	107	+	distribution shall be made from the trust fund to the state-
	108	+	supported medicaid fund in an amount equal to five percent of
	109	+	the average of the year-end market values of the trust fund for
	110	+	the immediately preceding three calendar years; provided that a
	111	+	distribution shall not be made until the balance of the trust
	112	+	fund at the end of a fiscal year is at least five hundred
	113	+	million dollars ($500,000,000).
86	114		E. Money in the trust fund may be appropriated for
87		-	any purpose if, in a fiscal year, federal matching funds for
88		-	the state medicaid program:
89		-	(1) decrease by at least seven and one-half
90		-	percent from the previous fiscal year; or
91		-	(2) are less than a one-to-one match with
92		-	money appropriated by the legislature for the program.
93		-	F. In fiscal years 2026 through 2029, money in the
94		-	trust fund may be appropriated to support the state medicaid
95		-	program if a reduction in federal medicaid funding received
96		-	by the state will cause a reduction in coverage or benefits
97		-	below the levels provided as of the effective date of this
98		-	2025 act.
99		-	G. Money in the trust fund may be expended in the
100		-	event that general fund balances, including all authorized
101		-	revenues and transfers to the general fund and balances in
102		-	the general fund operating reserve, the appropriation SB 88
103		-	Page 3
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129		-	contingency fund, the tax stabilization reserve and the early
130		-	childhood education and care fund, will not meet the level of
	143	+	any purpose if, in a fiscal year, federal matching funds for
	144	+	the state medicaid program:
	145	+	(1) decrease by at least seven and one-half
	146	+	percent from the previous fiscal year; or
	147	+	(2) are less than a one-to-one match with
	148	+	money appropriated by the legislature for the program.
	149	+	F. Money in the trust fund may be expended in the
	150	+	event that general fund balances, including all authorized
	151	+	revenues and transfers to the general fund and balances in the
	152	+	general fund operating reserve, the appropriation contingency
	153	+	fund, the tax stabilization reserve and the early childhood
	154	+	education and care fund, will not meet the level of
131	155		appropriations authorized from the general fund for a fiscal
132		-	year. In that event, to avoid an unconstitutional deficit,
133		-	~~the~~ legislature may appropriate from the trust fund to the
134		-	~~general~~ fund only in the amount necessary to meet general
135		-	~~fund~~ appropriations for that fiscal year and only if the
136		-	~~legislature~~ has authorized transfers from the appropriation
137		-	~~contingency~~ fund, the general fund operating reserve, the tax
138		-	~~stabilization~~ reserve and the early childhood education and
139		-	~~care fund that~~ exhaust those fund balances.
140		-	SECTION 2. STATE-SUPPORTED MEDICAID ~~FUND.--The~~
141		-	"state-supported medicaid fund" is created in the ~~state~~
142		-	treasury. The fund consists of distributions,
	156	+	year. In that event, to avoid an unconstitutional deficit, the
	157	+	legislature may appropriate from the trust fund to the general
	158	+	fund only in the amount necessary to meet general fund
	159	+	appropriations for that fiscal year and only if the legislature
	160	+	has authorized transfers from the appropriation contingency
	161	+	fund, the general fund operating reserve, the tax stabilization
	162	+	reserve and the early childhood education and care fund that
	163	+	exhaust those fund balances.
	164	+	SECTION 2. [NEW MATERIAL] STATE-SUPPORTED MEDICAID
	165	+	FUND.--The "state-supported medicaid fund" is created in the
	166	+	state treasury. The fund consists of distributions,
143	167		appropriations, gifts, grants, donations and income from
144		-	investment of the fund. The health care authority shall
145		-	administer the fund. Money in the fund is subject to
146		-	appropriation by the legislature to support the state
147		-	medicaid program and to match federal funds for the state
148		-	medicaid program. Expenditures from the fund shall be by
149		-	warrant of the secretary of finance and administration
150		-	pursuant to vouchers signed by the secretary of health care
151		-	authority or the secretary's authorized representative. Any
152		-	unexpended or unencumbered balance remaining at the end of a
153		-	fiscal year shall revert to the medicaid trust fund. SB 88
154		-	Page 4
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	196	+	investment of the fund. The health care authority shall
	197	+	administer the fund. Money in the fund is subject to
	198	+	appropriation by the legislature to support the state medicaid
	199	+	program and to match federal funds for the state medicaid
	200	+	program. Expenditures from the fund shall be by warrant of the
	201	+	secretary of finance and administration pursuant to vouchers
	202	+	signed by the secretary of health care authority or the
	203	+	secretary's authorized representative. Any unexpended or
	204	+	unencumbered balance remaining at the end of a fiscal year
	205	+	shall revert to the medicaid trust fund.
180	206		SECTION 3. Section 6-5-10 NMSA 1978 (being Laws 1994,
181	207		Chapter 11, Section 1, as amended) is amended to read:
182	208		"6-5-10. STATE AGENCY REVERSIONS--DIRECTOR POWERS--
183		-	COMPLIANCE WITH FEDERAL RULES--TRANSFER OF REVERSIONS IN
184		-	GENERAL FUND TO THE MEDICAID TRUST FUND.--
185		-	A. Except as provided in Subsection B of this
186		-	section, all unreserved undesignated fund balances in
187		-	reverting funds and accounts as reflected in the central
188		-	financial reporting and accounting system as of June 30 shall
189		-	revert by September 30 to the general fund. The division may
190		-	adjust the reversion within forty-five days of release of the
191		-	audit report for that fiscal year.
192		-	B. By October 1 of each year, the balance of the
193		-	reversions in excess of one hundred ten million dollars
194		-	($110,000,000) for the previous fiscal year shall be
195		-	transferred to the medicaid trust fund until the balance of
196		-	the medicaid trust fund reaches two billion dollars
197		-	($2,000,000,000) as of the end of a fiscal year.
198		-	C. The director of the division may modify a
199		-	reversion required pursuant to Subsection A of this section
200		-	or a transfer made pursuant to Subsection B of this section
201		-	if the reversion made pursuant to Subsection A of this
202		-	section would violate federal law or rules pertaining to
203		-	supplanting of state funds with federal funds or other
204		-	applicable federal provisions." SB 88
205		-	Page 5
	209	+	COMPLIANCE WITH FEDERAL RULES.--
	210	+	A. Except as provided in [Subsections B and C ]
	211	+	Subsection B of this section, all unreserved undesignated fund
	212	+	balances in reverting funds and accounts as reflected in the
	213	+	central financial reporting and accounting system as of June 30
	214	+	shall revert by September 30 to the [general ] medicaid trust
	215	+	fund; provided that once the balance of the medicaid trust fund
	216	+	at the end of a fiscal year reaches two billion dollars
	217	+	($2,000,000,000), the balances shall revert to the general
	218	+	fund. The division may adjust the reversion within forty-five
	219	+	days of release of the audit report for that fiscal year.
	220	+	B. The director of the division may modify a
	221	+	.228976.4
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231		-	SECTION 4. EFFECTIVE DATE.--The effective date of the
232		-	provisions of this act is July 1, 2025.
	249	+	reversion required pursuant to Subsection A of this section if
	250	+	the reversion would violate federal law or rules pertaining to
	251	+	supplanting of state funds with federal funds or other
	252	+	applicable federal provisions."
	253	+	SECTION 4. Section 6-10-2.1 NMSA 1978 (being Laws 1989,
	254	+	Chapter 324, Section 41, as amended) is amended to read:
	255	+	"6-10-2.1. STATE TREASURER--DUTY.--
	256	+	A. Except as provided in Subsection B of this
	257	+	section, the state treasurer shall identify and allocate to the
	258	+	[general] medicaid trust fund all earnings, including realized
	259	+	and unrealized gains and losses, from the investment of all
	260	+	accounts or funds in [his ] the treasurer's custody unless the
	261	+	allocation of the earnings is:
	262	+	[A.] (1) otherwise provided by law;
	263	+	[B.] (2) prohibited by federal law creating
	264	+	the fund or the account or by specific court order; or
	265	+	[C.] (3) from the investment of a permanent
	266	+	fund and the use of the interest and income from the fund is
	267	+	restricted by constitutional or statutory provisions to
	268	+	particular purposes.
	269	+	B. Once the balance of the medicaid trust fund at
	270	+	the end of a fiscal year reaches two billion dollars
	271	+	($2,000,000,000), the allocation pursuant to Subsection A of
	272	+	this section shall be made to the general fund, subject to the
	273	+	provisions of Paragraphs (1) through (3) of that subsection. "
	274	+	.228976.4
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	302	+	SECTION 5. A new section of Chapter 6, Article 4 NMSA
	303	+	1978 is enacted to read:
	304	+	"[NEW MATERIAL] REVERSIONS OF APPROPRIATIONS TO MEDICAID
	305	+	TRUST FUND.--
	306	+	A. Except as provided in Subsection B of this
	307	+	section and unless otherwise provided by law, the legislature
	308	+	shall provide that the following shall be transferred to the
	309	+	medicaid trust fund at the end of each fiscal year:
	310	+	(1) one percent of the unexpended or
	311	+	unencumbered balances of appropriations made in Section 4 of
	312	+	the prior year's general appropriation act;
	313	+	(2) the unexpended or unencumbered balances of
	314	+	all other appropriations made from the general fund in the
	315	+	prior year's general appropriation act, not including
	316	+	appropriations made to nonreverting funds; and
	317	+	(3) reversion of the unexpended balances of
	318	+	appropriations made from the general fund for capital outlay
	319	+	projects.
	320	+	B. Once the balance of the medicaid trust fund at
	321	+	the end of a fiscal year reaches two billion dollars
	322	+	($2,000,000,000), a transfer pursuant to Subsection A of this
	323	+	section shall not be made."
	324	+	SECTION 6. Laws 2021, Chapter 138, Section 2 is amended
	325	+	to read:
	326	+	"SECTION 2. GENERAL FUND APPROPRIATIONS--LIMITATIONS--
	327	+	.228976.4
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	355	+	REVERSIONS.--
	356	+	A. Except as provided in Subsections C, D and G of
	357	+	this section and as otherwise specifically provided by law, the
	358	+	unexpended balance of an appropriation made in this act from
	359	+	the general fund shall revert to the general fund :
	360	+	(1) no later than September 30 following:
	361	+	(a) the end of fiscal year 2022 if the
	362	+	project for which an appropriation was made has less than five
	363	+	percent of the project's total appropriation amount subject to
	364	+	a binding written agreement with a third party on that date;
	365	+	(b) the end of fiscal year 2023 for a
	366	+	project for which an appropriation was made to purchase
	367	+	vehicles, including emergency vehicles and other vehicles that
	368	+	require special equipment; heavy equipment; books; educational
	369	+	technology; or other equipment or furniture that is not related
	370	+	to a more inclusive construction or renovation project; or
	371	+	(c) the end of fiscal year 2025 for a
	372	+	project for which an appropriation was made related to an
	373	+	inclusive construction or renovation project; or
	374	+	(2) within six months of completion of the
	375	+	project for any other project for which an appropriation was
	376	+	made, but no later than the end of fiscal year 2025.
	377	+	B. Except for appropriations to the capital program
	378	+	fund, money from appropriations made in this act from the
	379	+	general fund shall not be used to pay indirect project costs.
	380	+	.228976.4
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	408	+	C. Except as provided in Subsection D of this
	409	+	section, the balance of an appropriation made from the general
	410	+	fund shall revert in the time frame set forth in Subsection A
	411	+	of this section to the capital projects fund.
	412	+	D. The balance of an appropriation made from the
	413	+	general fund to the Indian affairs department or the aging and
	414	+	long-term services department for a project located on lands of
	415	+	an Indian nation, tribe or pueblo shall revert in the time
	416	+	frame set forth in Subsection A of this section to the tribal
	417	+	infrastructure project fund.
	418	+	E. For the purposes of this section, "unexpended
	419	+	balance" means the remainder of an appropriation after
	420	+	reserving for unpaid costs and expenses subject to a binding
	421	+	written agreement with a third party.
	422	+	F. Money that is appropriated from the general fund
	423	+	pursuant to this act shall not be subject to a binding written
	424	+	agreement with a third party prior to the authorized state
	425	+	agency's approval to enter into that agreement.
	426	+	G. The unexpended balance of an appropriation made
	427	+	in this act from the general fund that has not reverted on or
	428	+	before the effective date of this 2025 act shall revert in the
	429	+	time frame set forth in Subsection A of this section to the
	430	+	medicaid trust fund."
	431	+	SECTION 7. Laws 2022, Chapter 53, Section 2 is amended to
	432	+	read:
	433	+	.228976.4
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	461	+	"SECTION 2. GENERAL FUND APPROPRIATIONS--LIMITATIONS--
	462	+	REVERSIONS.--
	463	+	A. Except as provided in Subsection D of this
	464	+	section and as otherwise specifically provided by law, the
	465	+	unexpended balance of an appropriation made in this act from
	466	+	the general fund shall revert to the general fund :
	467	+	(1) no later than September 30 following:
	468	+	(a) the end of fiscal year 2023 if the
	469	+	project for which an appropriation was made has less than five
	470	+	percent of the project's total appropriation amount subject to
	471	+	a binding written agreement with a third party on that date;
	472	+	(b) the end of fiscal year 2024 for a
	473	+	project for which an appropriation was made to purchase
	474	+	vehicles, including emergency vehicles and other vehicles that
	475	+	require special equipment; heavy equipment; books; educational
	476	+	technology; or other equipment or furniture that is not related
	477	+	to a more inclusive construction or renovation project; or
	478	+	(c) the end of fiscal year 2026 for a
	479	+	project for which an appropriation was made related to an
	480	+	inclusive construction or renovation project; or
	481	+	(2) within six months of completion of the
	482	+	project for any other project for which an appropriation was
	483	+	made, but no later than the end of fiscal year 2026.
	484	+	B. Money that is appropriated from the general fund
	485	+	pursuant to this act shall not be subject to a binding written
	486	+	.228976.4
	487	+	- 9 - underscored material = new
	488	+	[bracketed material] = delete
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	514	+	agreement with a third party prior to the authorized state
	515	+	agency's approval to enter into that agreement.
	516	+	C. For the purposes of this section, "unexpended
	517	+	balance" means the remainder of an appropriation after
	518	+	reserving for unpaid costs and expenses subject to a binding
	519	+	written agreement with a third party.
	520	+	D. The unexpended balance of an appropriation made
	521	+	in this act from the general fund that has not reverted on or
	522	+	before the effective date of this 2025 act shall revert in the
	523	+	time frame set forth in Subsection A of this section to the
	524	+	medicaid trust fund."
	525	+	SECTION 8. Laws 2023, Chapter 199, Section 1 is amended
	526	+	to read:
	527	+	"SECTION 1. GENERAL FUND APPROPRIATIONS--LIMITATIONS--
	528	+	REVERSIONS.--
	529	+	A. Except as provided in Subsection E of this
	530	+	section and as otherwise specifically provided by law, the
	531	+	unexpended balance of an appropriation made in this act from
	532	+	the general fund shall revert to the general fund :
	533	+	(1) no later than September 30 following:
	534	+	(a) the end of fiscal year 2024 if the
	535	+	project for which an appropriation was made has less than five
	536	+	percent of the project's total appropriation amount subject to
	537	+	a binding written agreement with a third party on that date;
	538	+	(b) the end of fiscal year 2025 for a
	539	+	.228976.4
	540	+	- 10 - underscored material = new
	541	+	[bracketed material] = delete
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	567	+	project for which an appropriation was made to purchase
	568	+	vehicles, including emergency vehicles and other vehicles that
	569	+	require special equipment; heavy equipment; books; educational
	570	+	technology; or other equipment or furniture that is not related
	571	+	to a more inclusive construction or renovation project; or
	572	+	(c) the end of fiscal year 2027 for a
	573	+	project for which an appropriation was made related to an
	574	+	inclusive construction or renovation project; or
	575	+	(2) within six months of completion of the
	576	+	project for any other project for which an appropriation was
	577	+	made, but no later than the end of fiscal year 2027.
	578	+	B. Except for appropriations to the capital program
	579	+	fund, money from appropriations made in this act shall not be
	580	+	used to pay indirect project costs.
	581	+	C. Money that is appropriated from the general fund
	582	+	pursuant to this act shall not be subject to a binding written
	583	+	agreement with a third party prior to the authorized state
	584	+	agency's approval to enter into that agreement.
	585	+	D. For the purposes of this section, "unexpended
	586	+	balance" means the remainder of an appropriation after
	587	+	reserving for unpaid costs and expenses subject to a binding
	588	+	written agreement with a third party.
	589	+	E. The unexpended balance of an appropriation made
	590	+	in this act from the general fund that has not reverted on or
	591	+	before the effective date of this 2025 act shall revert in the
	592	+	.228976.4
	593	+	- 11 - underscored material = new
	594	+	[bracketed material] = delete
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	620	+	time frame set forth in Subsection A of this section to the
	621	+	medicaid trust fund."
	622	+	SECTION 9. Laws 2024, Chapter 66, Section 1 is amended to
	623	+	read:
	624	+	"SECTION 1. GENERAL FUND APPROPRIATIONS--LIMITATIONS--
	625	+	REVERSIONS.--
	626	+	A. Except as provided in Subsection E of this
	627	+	section and as otherwise specifically provided by law, the
	628	+	unexpended balance of an appropriation made in this act from
	629	+	the general fund shall revert to the general fund :
	630	+	(1) no later than September 30 following:
	631	+	(a) the end of fiscal year 2026 for a
	632	+	project for which an appropriation was made to purchase
	633	+	vehicles, including emergency vehicles and other vehicles that
	634	+	require special equipment; heavy equipment; books; educational
	635	+	technology; or other equipment or furniture that is not related
	636	+	to a more inclusive construction or renovation project; or
	637	+	(b) the end of fiscal year 2028 for a
	638	+	project for which an appropriation was made related to an
	639	+	inclusive construction or renovation project; or
	640	+	(2) within six months of completion of the
	641	+	project for any other project for which an appropriation was
	642	+	made, but no later than the end of fiscal year 2028.
	643	+	B. The agencies named in this act shall certify to
	644	+	the department of finance and administration that the money
	645	+	.228976.4
	646	+	- 12 - underscored material = new
	647	+	[bracketed material] = delete
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	673	+	appropriated in this act is needed for the purposes specified
	674	+	in the applicable section of this act. If an agency has not
	675	+	certified the need for the appropriation for a particular
	676	+	project by the end of fiscal year 2026, the authorization for
	677	+	that project is void.
	678	+	C. Money that is appropriated from the general fund
	679	+	pursuant to this act shall not be subject to a binding written
	680	+	agreement with a third party prior to the authorized state
	681	+	agency's approval to enter into that agreement.
	682	+	D. For the purposes of this section, "unexpended
	683	+	balance" means the remainder of an appropriation after
	684	+	reserving for unpaid costs and expenses subject to a binding
	685	+	written agreement with a third party.
	686	+	E. The unexpended balance of an appropriation made
	687	+	in this act from the general fund that has not reverted on or
	688	+	before the effective date of this 2025 act shall revert in the
	689	+	time frame set forth in Subsection A of this section to the
	690	+	medicaid trust fund."
	691	+	SECTION 10. TRANSFER.--Three hundred million dollars
	692	+	($300,000,000) is transferred from the general fund to the
	693	+	medicaid trust fund.
	694	+	- 13 -
	695	+	.228976.4