A. A court may modify a child support obligation upon a showing of material and substantial changes in circumstances subsequent to the adjudication of the pre-existing order, including the health care needs of a child, to include the availability of health care coverage. There shall be a presumption of material and substantial changes in circumstances if application of the child support guidelines in Section 40-4-11.1 N.M. Stat. Ann. would result in a deviation upward or downward of more than twenty percent of the existing child support obligation and the petition for modification is filed more than one year after the filing of the pre-existing order.

B. All child support orders shall contain a provision for the annual exchange of financial information by the obligor and obligee upon a written request by either party. The financial information to be furnished shall include:

(1)     federal and state tax returns, including all schedules, for the year preceding the request;

(2)     W-2 statements for the year preceding the request;

(3)     Internal Revenue Service Form 1099s for the year preceding the request; (4)     work-related daycare statements for the year preceding the request;

(5)     dependent medical insurance premiums for the year preceding the request; and

(6)     wage and payroll statements for four months preceding the request. For the purposes of this subsection, the wages of a subsequent spouse may be omitted from the financial information provided by either the obligor or the obligee.

C. The requirement to provide for the child’s health care needs in the order, through insurance or other means, shall be a basis to initiate an adjustment of an order, regardless of whether an adjustment in the amount of child support is necessary.