Summary:

 Senate Bill 197 (SB 197) allows money in the Emergency Medical Services Fund to be redirected to the New Mexico Finance Authority to make loans to purchase equipment for emergency medical services system improvement projects for which funding has been granted pursuant to the Emergency Medical Services Fund Act, and makes an appropriation. 

Legislation Overview:

 Senate Bill 197 (SB 197) amends Section 3-31-1 NMSA 1978 to state that emergency medical services bonds may be issued for the purchase of equipment for emergency medical system improvement projects or emergency medical services vehicles for which funding has been granted pursuant to the Emergency Medical Services Fund Act (EMSFA). The municipality may pledge any or all of the revenues received by the municipality from the Emergency Medical Services Fund distributions pursuant to EMSFA to the payment of the interest on and principal of the emergency medical services bonds.

“Emergency medical services bonds” are defined as bonds authorized by Subsection I of Section 4-62-1 NMSA 1978.

The State Treasurer is authorized to redirect a distribution to the New Mexico Finance Authority to make loans for purchases authorized pursuant to the EMFSA and by ordinance or resolution passed by the municipality or county and a written agreement of the municipality or county and the New Mexico Finance Authority.
 

Current Law:

 Section 3-31-1 NMSA 1978 does not currently include an allowance for the use of emergency medical services bonds for the purchase of equipment or vehicles. 
Current law states that in any fiscal year, money in the fund that is not distributed for emergency medical services system improvement projects or administrative costs may be distributed pursuant to these provisions:

In any fiscal year, no less than seventy-five percent of the money in the fund must be used for the local emergency medical services funding program to support the cost of supplies and equipment and operational costs other than salaries and benefits for emergency medical services personnel. 

The State Treasurer is not currently authorized to redirect a distribution to the New Mexico Finance Authority to make loans for purchases authorized pursuant to the EMSFA.