A. The legislature finds that:

(1) the national guard has a proud tradition of military service with thousands of New Mexicans having answered the call of the nation and served in the national guard;

(2) there have been instances in which the dependents of members of the national guard have been left without adequate financial resources when a national guard member has been killed while on active duty;

(3) members of the national guard are now being asked to serve extended periods of active duty in combat areas;

(4) members of the national guard are eligible for life insurance policies up to the maximum amount allowable through the federal servicemembers' group life insurance program; and

(5) members of the national guard provide New Mexico and its citizens valuable benefits through their service inside this state and through their recently extended periods of active duty in combat areas outside of New Mexico, and in exchange for these extended periods of active duty they should receive assistance with their premiums for the federal servicemembers' group life insurance program.

B. The purpose of creating and funding the service members' life insurance reimbursement fund is to provide a benefit to members of the national guard in exchange for and in recognition of their assumption of extended periods of active duty in combat areas, in addition to their increased contributions to the safety and welfare of the citizens of the state of New Mexico.

History: Laws 2005, ch. 2, § 1; 2015, ch. 149, § 1.

The 2015 amendment, effective April 10, 2015, made members of the New Mexico national guard eligible for life insurance policies "for up to the maximum amount allowable" through the federal servicemembers' group life insurance program; deleted "New Mexico" throughout the section; and in Subsection A, Paragraph (4), after "insurance policies", deleted "that are currently limited" and added "up", and after "to", deleted "two hundred fifty thousand dollars ($250,000)" and added "the maximum amount allowable".

Applicability. — Laws 2005, ch. 2, § 4 made the provisions of Laws 2005, ch. 2, § 1 applicable to premiums paid on or after February 2, 2005.