reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-9 - Opportunity enterprise financing.

A. The authority shall receive and review applications for opportunity enterprise financing. If the authority determines that an enterprise development project is eligible for financing, the authority may enter into a contract with the opportunity enterprise partner to provide financing to that partner, which shall be used to complete that project.
B. The authority shall ensure that all zoning, permitting and other regulatory requirements will be met by the enterprise development project and that the enterprise development project will create or expand economic development opportunities within the state.
C. Financing shall not be subject to repayment if the terms of the contract for financing are carried out by the opportunity enterprise partner. A property associated with the enterprise development project shall be the property of the authority and shall be a property available for lease as provided in Section 10 [6-34-10 NMSA 1978] of the Opportunity Enterprise Act. The authority may enter into agreements with the general services department or other state agency or entity approved by the board to administer and maintain the property as required by the Opportunity Enterprise Act.
D. As provided in rules adopted by the board, upon completion of an enterprise development project, the authority shall allow the opportunity enterprise partner responsible for the completion of that project an opportunity to obtain an opportunity enterprise lease for that property as provided in Section 10 of the Opportunity Enterprise Act; provided that any breach of the terms of the contract for opportunity enterprise financing may preclude that opportunity enterprise partner from leasing the property, and in that event, the property shall be made available for lease to other opportunity enterprise partners.
History:
Laws 2022, ch. 57, § 9.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 9 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-10 - Opportunity enterprise lease; terms.

A. The authority shall receive and review applications for opportunity enterprise leases. If the authority determines that an opportunity enterprise partner is eligible for an opportunity enterprise lease, the authority may enter into a contract to lease an available property to that opportunity enterprise partner in exchange for rent payments, subject to the terms provided by this section. The authority may enter into agreements with the general services department or other state agency or entity approved by the board to administer an opportunity enterprise lease.
B. An opportunity enterprise lease shall:
(1) require that the property be used solely to create and expand economic development opportunities;
(2) provide, based on the fair market value of the property, for:
(a) sufficient rent; and
(b) other securities to ensure the maintenance and protection of the property;
(3) require that the property be properly insured for the duration of the lease; and
(4) be bound only by the terms of the lease and any rules promulgated pursuant to the provisions of the Opportunity Enterprise Act.
C. Receipts from the payment of rent owed pursuant to an opportunity enterprise lease shall be deposited in the fund.
History:
Laws 2022, ch. 57, § 10.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 10 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-11 - Opportunity enterprise loans; terms; repayment.

A. The authority shall receive and review applications for opportunity enterprise loans. The authority may make loans to opportunity enterprise partners if:
(1) funding is available;
(2) the opportunity enterprise partner meets credit and identification criteria, as determined by the authority;
(3) the opportunity enterprise partner certifies that the proceeds of the loan will be used for an enterprise development project; and
(4) the opportunity enterprise partner meets any other requirement for an opportunity enterprise loan.
B. The opportunity enterprise partner shall provide the authority with ongoing information requested by the authority.
C. Opportunity enterprise loans shall be made for loan periods of no less than fifteen years and no more than thirty years, as determined by the authority. The loans shall bear an annual interest rate of no less than zero percent.
D. Beginning no later than the third anniversary of the funding date of the loan, payment on the outstanding principal of the loan shall be due on a schedule determined by the authority for the remainder of the loan period.
E. Receipts from the repayment of opportunity enterprise loans shall be deposited in the fund.
F. No provision in an opportunity enterprise loan or the evidence of indebtedness of the loan shall include a penalty or premium for prepayment of the balance of the indebtedness.
G. The authority may provide a guarantee to a federally insured financial institution on behalf of a person who would otherwise be eligible as an opportunity enterprise partner; provided that the proceeds of any guaranteed loan are used for an enterprise development project. A guarantee pursuant to this subsection shall be provided subject to terms approved by the board.
History:
Laws 2022, ch. 57, § 11.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 11 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-12 - Opportunity enterprise revolving fund; created; permitted uses.

A. The "opportunity enterprise revolving fund" is created within the authority. The fund consists of appropriations, distributions, transfers, gifts, grants, donations, bequests, fees collected, payments of principal and interest on opportunity enterprise loans, income from rents paid on opportunity enterprise leases, income from investment of the fund and any other money distributed or otherwise allocated to the fund. Balances in the fund at the end of a fiscal year shall not revert to the general fund except as provided in Section 13 [6-34-13 NMSA 1978] of the Opportunity Enterprise Act. The fund shall be administered by the authority as a separate account and may consist of such subaccounts as the authority deems necessary to carry out the purposes of the fund.
B. Money in the fund shall be used by the authority to carry out the provisions of the Opportunity Enterprise Act, including to:
(1) pay the reasonably necessary administrative costs, payments in lieu of taxes and other costs and fees incurred by the authority in carrying out the provisions of that act;
(2) provide opportunity enterprise financing; and
(3) make opportunity enterprise loans.
C. Money in the fund that is not needed for immediate disbursement may be deposited or invested in the same manner as other funds administered by the authority.
History:
Laws 2022, ch. 57, § 12.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 12 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-13 - Excess revenue to the general fund; opportunity enterprise revolving fund; transfer.

A. If, on June 30, 2028 and by June 30 of each fiscal year thereafter, the balance in the fund for that fiscal year exceeds the annual average amount by an amount greater than six percent, the amount in excess of six percent shall be transferred to the general fund. If there is not an excess amount pursuant to this section, no transfer shall be made from the fund.
B. As used in this section, "annual average amount" means the total balance of the fund in the immediately preceding five fiscal years, divided by five.
History:
Laws 2022, ch. 57, § 13.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 13 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-14 - Reports.

A. Prior to October 1, 2023 and each succeeding October 1 thereafter, the authority shall submit a report to the governor, the legislature, the legislative finance committee, the New Mexico finance authority oversight committee, the revenue stabilization and tax policy committee and other appropriate legislative interim committees. The report shall provide details regarding enterprise assistance provided pursuant to the Opportunity Enterprise Act. The report shall include:
(1) the total amount of enterprise assistance provided for enterprise development projects and state revenue derived from each enterprise development project;
(2) the total number of loans made pursuant to the Opportunity Enterprise Act; the amount of those loans; the number of loan recipients in a delinquent status, in default or in the process of filing or that have filed for bankruptcy;
(3) an overview of the industries and types of business entities operating pursuant to an enterprise development project or lease;
(4) the total number of employees currently employed directly or indirectly related to an enterprise development project or lease; and
(5) any recommended changes to the Opportunity Enterprise Act to ensure proper safeguards for public money and to ensure enterprise assistance is able to efficiently advance the economic development interests of the state.
B. Information obtained by the authority regarding applicants for enterprise financing is confidential and not subject to inspection pursuant to the Inspection of Public Records Act [Chapter 14, Article 2 NMSA 1978]; provided that nothing shall prevent the authority from disclosing:
(1) information required in the report pursuant to this section;
(2) public information pursuant to Paragraphs (1) and (2) of Subsection B of Section 8 [6-34-8 NMSA 1978] of the Opportunity Enterprise Act; and
(3) the names of persons that have received enterprise assistance and the amount of enterprise assistance provided pursuant to the Opportunity Enterprise Act.
History:
Laws 2022, ch. 57, § 14.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 14 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 6 - Public Finances › Article 34 - Opportunity Enterprise › Section 6-34-15 - Conflict of interest.

A. If a member of the board or an employee of the authority has an interest, either direct or indirect, in an application or contract relating to enterprise assistance, that interest shall be disclosed to the authority and the board in writing. The person having such interest shall not participate in actions by the board or the authority with respect to that conflict.
B. A person who has a conflict of interest and participates in an action involving that conflict of interest or knowingly fails to notify the authority and the board in writing of that conflict is guilty of a misdemeanor and upon conviction shall be sentenced pursuant to the provisions of Section 31-19-1 NMSA 1978.
History:
Laws 2022, ch. 57, § 15.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 57, § 16 made Laws 2022, ch. 57, § 15 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-1 - Short title.

Chapter 7, Article 1 NMSA 1978 may be cited as the "Tax Administration Act".
History:
1953 Comp., § 72-13-13, enacted by Laws 1965, ch. 248, § 1; 1979, ch. 144, § 1.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references.
— Validity of statutory classifications based on population - tax statutes, 98 A.L.R.3d 1083.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-2.1 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1986, ch. 20, § 136A repealed 7-1-2.1 NMSA 1978, as enacted by Laws 1985, ch. 65, § 2, relating to applicability of the Tax Administration Act and legislative intent, effective July 1, 1986. For present comparable provisions relating to applicability,
see
7-1-2 NMSA 1978.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-2.2 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1987, ch. 169, § 7 repealed 7-1-2.2 NMSA 1978, as enacted by Laws 1985, ch. 65, § 53, relating to applicability of the Tax Administration Act and legislative intent, effective July 1, 1987. For present comparable provisions relating to applicability,
see
7-1-2 NMSA 1978.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-4.1 - New Mexico taxpayer bill of rights created; purpose.

The "New Mexico Taxpayer Bill of Rights" is created. It is the purpose of the New Mexico Taxpayer Bill of Rights to:
A. ensure that the rights of New Mexico taxpayers are adequately safeguarded and protected during the assessment, collection and enforcement of any tax administered by the department pursuant to the Tax Administration Act;
B. ensure that the taxpayer is treated with dignity and respect; and
C. provide brief but comprehensive statements that explain in simple, nontechnical terms the rights of taxpayers as set forth in Section 7-1-4.2 NMSA 1978.
History:
Laws 2003, ch. 398, § 1; 2017, ch. 63, § 5.
ANNOTATIONS
The 2017 amendment,
effective June 16, 2017, in Subsection C, after "Section", deleted "2 of this 2003 act", added "7-1-4.2 NMSA 1978".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-4.3 - New Mexico taxpayer bill of rights; notice to the public.

The department shall develop a publication that states the rights of taxpayers in simple, nontechnical terms and shall disseminate the publication to taxpayers, at a minimum, with tax forms periodically issued by the department.
History:
Laws 2003, ch. 398, § 3; 2021, ch. 65, § 1.
ANNOTATIONS
The 2021 amendment,
effective July 1, 2021, removed a reference to the combined reporting system, and required the taxation and revenue department to disseminate its publication of the taxpayer bill of rights along with tax forms periodically issued by the department; and after "at a minimum, with", deleted "the annual income and semiannual combined reporting system", and after "tax forms", added "periodically issued by the department".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-4.4 - Notice of potential eligibility required.

The department shall include a notice with an income tax refund or other notice sent to a taxpayer whose income is within one hundred thirty percent of federal poverty guidelines as defined by the United States census bureau that the taxpayer may be eligible for food stamps. Included in the notice shall be general information about food stamps, such as where to apply for food stamps, based on information received by the department from the human services department [health care authority department] by January 30 of each calendar year.
History:
Laws 2005, ch. 138, § 1.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. Laws 2023, ch. 205, § 16 provided that references to the human services department shall be deemed to be references to the health care authority department.
Cross references.
— For notice by mail pursuant to taxpayers,
see
7-1-9 NMSA 1978.
Effective dates.
— Laws 2005, ch. 138 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-5 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1995, ch. 31, § 7 repealed 7-1-5 NMSA 1978, as enacted by Laws 1965, ch. 248, § 11, relating to administrative regulations, rulings, instructions and orders issued by the secretary, effective July 1, 1995. For provisions of the former section,
see
the 1994 NMSA 1978 on
NMOneSource.com.
For present comparable provisions,
see
9-11-6.2 NMSA 1978.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.1 - Identification of money in tax administration suspense fund; distribution.

After the necessary disbursements have been made from the tax administration suspense fund, the money remaining, except for remittances received within the previous sixty days that are unidentified as to source or disposition, in the suspense fund as of the last day of the month shall be identified by tax source and distributed or transferred in accordance with the applicable provisions of the Tax Administration Act. After the necessary distributions and transfers, any balance shall be distributed to the general fund.
History:
1978 Comp., § 7-1-6.1, enacted by Laws 1983, ch. 211, § 6; 1985, ch. 154, § 1; 1986, ch. 20, § 7; 1990, ch. 6, § 19; 1990, ch. 86, § 3; 2007 (1st S.S.), ch. 2, § 9.
ANNOTATIONS
Repeals.
— Laws 2007 (1st S.S.), ch. 2, § 11 repealed Laws 1990, ch. 6, § 19, effective June 28, 2007.
Cross references.
— For the tax administration suspense fund,
see
7-1-6 NMSA 1978.
For the general fund,
see
6-4-2 NMSA 1978.
The 2007 amendment,
effective June 28, 2007, eliminated the list of sections of the Tax Administration Act that govern distributions.
The 1990 amendment,
effective July 1, 1990, substituted "Sections 7-1-6.2 through 7-1-6.19, 7-1-6.24 through 7-1-6.26 and 7-1-6.28 through 7-1-6.40 NMSA 1978" for "Sections 7-1-6.2 through 7-1-6.18 NMSA 1978" at the end of the first sentence.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.2 - Distribution; small cities assistance fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the small cities assistance fund in an amount equal to fifteen percent of the net receipts attributable to the compensating tax.
History:
1978 Comp., § 7-1-6.2, enacted by Laws 1983, ch. 211, § 7; 1984, ch. 25, § 2; 1988, ch. 129, § 2; 2012, ch. 5, § 3.
ANNOTATIONS
Cross references.
— For distributions from small cities assistance fund,
see
3-37A-3 NMSA 1978.
The 2012 amendment,
effective January 1, 2013, increased the percentage of net receipts attributable to the compensating tax and after "in an amount equal to", deleted "ten" and added "fifteen".
Applicability.
— Laws 2012, ch. 5, § 7 provided that the distribution pursuant to Laws 2012, ch. 5, § 3 applies to receipts from compensating taxes that are attributable to sales on or after January 1, 2013.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.3 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1993, ch. 65, § 23, repealed 7-1-6.3 NMSA 1978, as enacted by Laws 1983, ch. 214, § 5, relating to distributions to the community alcoholism treatment and detoxification fund, effective July 1, 1993. For provisions of former section,
see
the 1992 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.5 - Distribution; small counties assistance fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the small counties assistance fund in an amount equal to ten percent of the net receipts attributable to the compensating tax.
History:
1978 Comp., § 7-1-6.5, enacted by Laws 1983, ch. 211, § 10; 1983, ch. 214, § 6; 1984, ch. 24, § 2.
ANNOTATIONS
Cross references.
— For distributions from small counties assistance fund,
see
4-61-3 NMSA 1978.
Compiler's notes.
— Laws 1983, ch. 211, § 10, and Laws 1983, ch. 214, § 6, both enacted the above section. However, Laws 1983, ch. 211, § 10, provided for a distribution in an amount equal to two percent of the net receipts. Both acts were approved on April 6, 1983. The section was set out as enacted by Laws 1983, ch. 214, § 6.
See
12-1-8 NMSA 1978.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.6 - Distribution; game protection fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the game protection fund of all amounts designated as contributions to that fund under the provisions of Section 7-2-24 NMSA 1978.
History:
1978 Comp., § 7-1-6.6, enacted by Laws 1983, ch. 211, § 11.
ANNOTATIONS
Effective dates.
— Laws 1983, ch. 211, § 43 made Laws 1983, ch. 211, § 11 effective July 1, 1983.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.8 - Distribution; motorboat fuel tax fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the motorboat fuel tax fund in an amount equal to thirteen hundredths of one percent of the net receipts attributable to the gasoline tax.
History:
1978 Comp., § 7-1-6.8, enacted by Laws 1983, ch. 211, § 13; 1987, ch. 347, § 7; 1988, ch. 72, § 3; 1988, ch. 73, § 3; 1989, ch. 356, § 3; 1993, ch. 357, § 2; 1994, ch. 5, § 4; 1995, ch. 6, § 2.
ANNOTATIONS
Cross references.
— For Gasoline Tax Act,
see
7-13-1 NMSA 1978 et seq.
For motor boat fuel fund,
see
16-2-19.1 NMSA 1978.
Compiler's notes.
— Subsection A of Laws 1995, ch. 6, § 20 repealed 7-1-6.8 NMSA 1978 as enacted by Laws 1994, ch. 5, § 5, relating to distributions to the motorboat fuel tax fund and which was to become effective August 1, 1997, effective June 16, 1995. For provisions of former section,
see
the 1994 NMSA 1978 on
NMOneSource.com.
The 1995 amendment,
effective August 1, 1995, substituted "thirteen hundredth" for "eleven hundredths".
The 1994 amendment,
effective August 1, 1994, substituted "eleven hundredths" for "one tenth".
The 1993 amendment,
effective August 1, 1993, substituted "one-tenth of one percent" for "fourteen one-hundredths of one percent".
The 1989 amendment,
effective August 1, 1989, substituted "equal to fourteen one hundredths" for "equal to sixteen one hundredths".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.10 - Distributions; state road fund.

A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state road fund in an amount equal to the net receipts attributable to the taxes, surcharges, penalties and interest imposed pursuant to the Gasoline Tax Act [Chapter 7, Article 13 NMSA 1978] and to the taxes, surtaxes, fees, penalties and interest imposed pursuant to the Special Fuels Supplier Tax Act [Chapter 7, Article 16A NMSA 1978] and the Alternative Fuel Tax Act [7-16B-1 to 7-16B-10 NMSA 1978] less:
(1) the amount distributed to the state aviation fund pursuant to Subsection B of Section 7-1-6.7 NMSA 1978;
(2) the amount distributed to the motorboat fuel tax fund pursuant to Section 7-1-6.8 NMSA 1978;
(3) the amount distributed to municipalities and counties pursuant to Subsection A of Section 7-1-6.9 NMSA 1978;
(4) the amount distributed to the county government road fund pursuant to Section 7-1-6.19 NMSA 1978;
(5) the amount distributed to the local governments road fund pursuant to Section 7-1-6.39 NMSA 1978;
(6) the amount distributed to the municipalities pursuant to Section 7-1-6.27 NMSA 1978;
(7) the amount distributed to the municipal arterial program of the local governments road fund pursuant to Section 7-1-6.28 NMSA 1978;
(8) the amount distributed to a qualified tribe pursuant to a gasoline tax sharing agreement entered into between the secretary of transportation and the qualified tribe pursuant to the provisions of Section 67-3-8.1 NMSA 1978; and
(9) the amount distributed to the general fund pursuant to Section 7-1-6.44 NMSA 1978.
B. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state road fund in an amount equal to the net receipts attributable to the taxes, interest and penalties from the Weight Distance Tax Act [Chapter 7, Article 15A NMSA 1978].
History:
1978 Comp., § 7-1-6.10, enacted by Laws 1983, ch. 211, § 15; 1987, ch. 347, § 9; 1988, ch. 70, § 8; 1988, ch. 73, § 5; 1989, ch. 356, § 5; 1990, ch. 86, § 4; 1992, ch. 55, § 4; 1993, ch. 272, § 1; 1993, ch. 357, § 4; 1994, ch. 5, § 8; 1995, ch. 6, § 4; 1995, ch. 16, § 11; 1996, ch. 15, § 2; 2003, ch. 150, § 1; 2003 (1st S.S.), ch. 3, § 1; 2004, ch. 109, § 1.
ANNOTATIONS
The 2004 amendment,
effective July 1, 2004, added Paragraph (9) of Subsection A.
The 2003 (1st S.S.) amendment,
effective July 1, 2004, deleted "highway and" following "secretary of" in Paragraph (8) of Subsection A, and "fees," preceding "interest and penalties" in Subsection B.
The 2003 amendment,
effective July 1, 2003, deleted "Special Fuels Tax Act" in from the first paragraph in Subsection A, and added Paragraph (A)(8).
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.12 - Transfer; revenues from municipal local option gross receipts and compensating taxes.

A. A transfer pursuant to Section 7-1-6.1 NMSA 1978 shall be made to each municipality for which the department is collecting a local option gross receipts tax and municipal compensating tax imposed by that municipality in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the net receipts attributable to the local option gross receipts tax and municipal compensating tax imposed by that municipality, less any deduction for administrative cost determined and made by the department pursuant to the provisions of the act authorizing imposition by that municipality of the local option gross receipts tax and municipal compensating tax and any additional administrative fee withheld pursuant to Section 7-1-6.41 NMSA 1978.
B. A transfer pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a municipality pursuant to the Tax Increment for Development Act [Chapter 5, Article 15 NMSA 1978].
C. A transfer pursuant to this section shall be adjusted for a distribution made to the Local Economic Development Act [Chapter 5, Article 10 NMSA 1978] fund pursuant to Section 5 [7-1-6.67 NMSA 1978] of this 2021 act and with respect to the amount dedicated by a municipality pursuant to Subsection B of Section 2 [5-10-17 NMSA 1978] of this 2021 act.
History:
1978 Comp., § 7-1-6.12, enacted by Laws 1983, ch. 211, § 17; 1986, ch. 20, § 8; 1990, ch. 99, § 46; 1991, ch. 9, § 12; 1993, ch. 30, § 1; 1997, ch. 125, § 2; 2006, ch. 75, § 31; 2019, ch. 270, § 5; 2021 (1st S.S.), ch. 2, § 3.
ANNOTATIONS
Cross references.
— For the solid waste facility grant fund,
see
74-9-41 NMSA 1978.
The 2021
(1st S.S.)
amendment,
effective April 7, 2021, provided transfers and distributions of a portion of municipal local option gross receipts and compensating tax revenue to the Local Economic Development Act fund; and added Subsection C.
The 2019 amendment,
effective July 1, 2019, included municipal compensating tax with the local option gross receipts tax, the revenues of which are used to make transfers to each municipality; in the section heading, added "and compensating"; and in Subsection A, after each occurrence of "local option gross receipts", added "tax and municipal compensating", and after "pursuant to", deleted "Subsection C of".
The 2006 amendment,
effective March 6, 2006, added Subsection B to provide an adjustment for a distribution to a tax increment development district.
The 1997 amendment,
effective July 1, 1997, added the language beginning "and any additional administrative".
The 1993 amendment,
effective June 18, 1993, inserted "local option" in the catchline and rewrote this section to the extent that a detailed comparison is impracticable.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.12 - Transfer; revenues from municipal local option gross receipts and compensating taxes. (Effective July 1, 2024.)

A. A transfer pursuant to Section 7-1-6.1 NMSA 1978 shall be made to each municipality for which the department is collecting a local option gross receipts tax and municipal compensating tax imposed by that municipality in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the net receipts attributable to the local option gross receipts tax and municipal compensating tax imposed by that municipality, less any deduction for administrative cost determined and made by the department pursuant to the provisions of the act authorizing imposition by that municipality of the local option gross receipts tax and municipal compensating tax and any additional administrative fee withheld pursuant to Section 7-1-6.41 NMSA 1978.
B. A transfer pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a municipality pursuant to the Tax Increment for Development Act [Chapter 5, Article 15 NMSA 1978].
C. A transfer pursuant to this section shall be adjusted for a distribution made to the Local Economic Development Act fund [5-10-14 NMSA 1978] pursuant to Section 7-1-6.67 NMSA 1978 and with respect to the amount dedicated by a municipality pursuant to Subsection B of Section 5-10-17 NMSA 1978.
D. A transfer pursuant to this section shall be adjusted for a distribution made to the metropolitan redevelopment fund pursuant to Section 11 [7-1-6.71 NMSA 1978] of this 2023 act and with respect to the amount dedicated by a municipality pursuant to Section 3-60A-23 NMSA 1978.
History:
1978 Comp., § 7-1-6.12, enacted by Laws 1983, ch. 211, § 17; 1986, ch. 20, § 8; 1990, ch. 99, § 46; 1991, ch. 9, § 12; 1993, ch. 30, § 1; 1997, ch. 125, § 2; 2006, ch. 75, § 31; 2019, ch. 270, § 5; 2021 (1st S.S.), ch. 2, § 3; 2023, ch. 112, § 12.
ANNOTATIONS
The 2023 amendment,
effective July 1, 2024, provided that a transfer pursuant to this section shall be adjusted for a distribution made to the metropolitan redevelopment fund; in Subsection C, changed "5 of this 2021 act" to "7-1-6.67 NMSA 1978" changed "2 of this 2021 act" to "5-10-17 NMSA 1978"; and added Subsection D.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.13 - Transfer; revenues from county local option gross receipts and compensating taxes. (Effective July 1, 2024.)

A. A transfer pursuant to Section 7-1-6.1 NMSA 1978 shall be made to each county for which the department is collecting a local option gross receipts tax and county compensating tax imposed by that county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the net receipts attributable to the local option gross receipts tax and county compensating tax imposed by that county, less any deduction for administrative cost determined and made by the department pursuant to the provisions of the act authorizing imposition by that county of the local option gross receipts tax and county compensating tax and any additional administrative fee withheld pursuant to Section 7-1-6.41 NMSA 1978.
B. A transfer pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a county pursuant to the Tax Increment for Development Act [Chapter 5, Article 15 NMSA 1978].
C. A transfer pursuant to this section shall be adjusted for a distribution made to the Local Economic Development Act fund [5-10-14 NMSA 1978] pursuant to Section 7-1-6.67 NMSA 1978 and with respect to the amount dedicated by a county pursuant to Subsection B of Section 5-10-17 NMSA 1978.
D. A transfer pursuant to this section shall be adjusted for a distribution made to the metropolitan redevelopment fund pursuant to Section 11 [7-1-6.71 NMSA 1978] of this 2023 act and with respect to the amount dedicated by a county pursuant to Section 3-60A-23 NMSA 1978.
History:
1978 Comp., § 7-1-6.13, enacted by Laws 1983, ch. 211, § 18; 1986, ch. 20, § 9; 1987, ch. 45, § 9; 1989, ch. 326, § 11; 1990, ch. 99, § 47; 1991, ch. 176, § 16; 1993, ch. 30, § 2; 1997, ch. 125, § 3; 2003, ch. 205, § 1; 2005, ch. 338, § 1; 2006, ch. 75, § 32; 2008, ch. 51, § 1; 2014, ch. 79, § 1; 2019, ch. 270, § 6; 2021 (1st S.S.), ch. 2, § 4; 2023, ch. 112, § 13.
ANNOTATIONS
The 2023 amendment,
effective July 1, 2024, provided that a transfer pursuant to this section shall be adjusted for a distribution made to the metropolitan redevelopment fund; in Subsection C, changed "5 of this 2021 act" to "7-1-6.67 NMSA 1978" and changed "2 of this 2021 act" to "5-10-17 NMSA 1978"; and added Subsection D.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.14 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1990, ch. 88, § 21 repealed 7-1-6.14 NMSA 1978, as enacted by Laws 1983, ch. 211, § 19, relating to transfers to counties or municipalities of amounts of net receipts attributable to county or municipal gasoline tax, effective May 16, 1990. For provisions of former section,
see
the 1989 NMSA on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.17 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1987, ch. 264, § 25A repealed 7-1-6.17 NMSA 1978, as enacted by Laws 1986, ch. 112, § 1, relating to distribution of tobacco products tax, effective July 1, 1987.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.18 - Distribution; veterans' state cemetery fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the veterans' state cemetery fund of the amounts designated pursuant to Section 7-2-28 NMSA 1978 as contributions to that fund after the city of Santa Fe has received the balance of tax refund contributions in the amount of one million seventy thousand dollars ($1,070,000).
History:
1978 Comp., § 7-1-6.18, enacted by Laws 1987, ch. 257, § 1; 2011, ch. 42, § 2; 2016, ch. 7, § 1.
ANNOTATIONS
The 2016 amendment,
effective May 18, 2016, changed the name of the veterans' national cemetery fund to the veterans' state cemetery fund, removed a contingency on a distribution to the veterans' state cemetery fund that already occurred, and removed a requirement that certain excess amounts in the veterans' state cemetery fund be distributed to the substance abuse education fund; in the catchline, after "veterans'", deleted "national" and added "state"; deleted "Upon a certification by the state board of finance that the city of Santa Fe grants and conveys additional acreage for the Santa Fe national cemetery", after "veterans'", deleted "national" and added "state", after "contributions to that fund", deleted "provided that when the sum of contributions received on or after January 1, 1988 equals one million seventy thousand dollars ($1,070,000), any contributions received in excess of that amount shall be distributed to the substance abuse education fund" and added "after the city of Santa Fe has received the balance of tax refund contributions in the amount of one million seventy thousand dollars ($1,070,000)".
The 2011 amendment,
effective June 17, 2011, eliminated the provision that permitted distributions to the substance abuse education fund if House Bill 103 of the first session of the thirty-eighth legislature became law.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.19 - Distribution; county government road fund created.

A. There is created in the state treasury the "county government road fund".
B. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the county government road fund in an amount equal to five and seventy-six hundredths percent of the net receipts attributable to the gasoline tax.
History:
1978 Comp., § 7-1-6.19, enacted by Laws 1991, ch. 9, § 15; 1993, ch. 357, § 5; 1994, ch. 5, § 9; 1995, ch. 6, § 5.
ANNOTATIONS
Repeals and reenactments.
— Laws 1991, ch. 9, § 15 repealed former 7-1-6.19 NMSA 1978, as enacted by Laws 1987, ch. 347, § 10, and enacted a new section, effective July 1, 1992.
Compiler's notes.
— Subsection A of Laws 1995, ch. 6, § 20 repealed 7-1-6.19 NMSA 1978, as enacted by Laws 1994, ch. 5, § 10, relating to the creation of and distributions to county government road fund and which was to become effective August 1, 1997, effective June 16, 1995. For provisions of former section,
see
the 1994 NMSA 1978 on
NMOneSource.com.
The 1995 amendment,
effective August 1, 1995, substituted "five and seventy-six hundredths percent" for "four and nine tenth percent" in Subsection B.
The 1994 amendment,
effective August 1, 1994, substituted "four and nine-tenths" for "four and forty-six hundredths" in Subsection B.
The 1993 amendment,
effective August 1, 1993, substituted "four and forty-six hundredths percent" for "six and thirteen-hundredths percent" in Subsection B.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.20 - Identification of money in extraction taxes suspense fund; distribution.

A. Except as provided in Subsection B of this section, after the necessary disbursements have been made from the extraction taxes suspense fund, the money remaining in the suspense fund as of the last day of the month shall be identified by tax source and distributed or transferred in accordance with the provisions of Sections 7-1-6.21 through 7-1-6.23 and 7-1-6.61 NMSA 1978. After the necessary distributions and transfers, any balance, except for remittances unidentified as to source or disposition, shall be transferred to the general fund.
B. Payments on assessments issued by the department pursuant to the Oil and Gas Conservation Tax Act [Chapter 7, Article 30 NMSA 1978], the Oil and Gas Emergency School Tax Act [Chapter 7, Article 31 NMSA 1978], the Oil and Gas Ad Valorem Production Tax Act [Chapter 7, Article 32 NMSA 1978] and the Oil and Gas Severance Tax Act [Chapter 7, Article 29 NMSA 1978] shall be held in the extraction taxes suspense fund until the secretary determines that there is no substantial risk of protest or other litigation, whereupon after the necessary disbursements have been made from the extraction taxes suspense fund, the money remaining in the suspense fund as of the last day of the month attributed to these payments shall be identified by tax source and distributed or transferred in accordance with the provisions of Sections 7-1-6.21 through 7-1-6.23 and 7-1-6.61 NMSA 1978. After the necessary distributions and transfers, any balance, except for remittance unidentified as to source or disposition, shall be transferred to the general fund.
History:
1978 Comp., § 7-1-6.20, enacted by Laws 1985, ch. 65, § 6; 2001, ch. 230, § 2; 2017 (1st S.S.), ch. 3, § 2; 2020, ch. 3, § 5.
ANNOTATIONS
Cross references.
— For the extraction taxes suspense fund,
see
7-1-6 NMSA 1978.
For the general fund,
see
6-4-2 NMSA 1978.
The 2020 amendment,
effective July 1, 2020, in Subsections A and B, changed "Section 3 of this 2017 act" to "7-1-6.61".
The 2017 (1st S.S.) amendment,
effective July 1, 2018, provided that excess funds in the extraction taxes suspense fund be distributed or transferred in accordance with the provisions of Section 7-1-6.61 NMSA 1978; and in Subsections A and B, after "7-1-6.23 NMSA 1978", added "and Section 3 of this 2017 act".
The 2001 amendment,
effective June 15, 2001, inserted "Except as provided in Subsection B of this section" in Subsection A, and added Subsection B.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.21 - Distribution to oil and gas reclamation fund.

A. With respect to any period for which the rate of the tax imposed by Section 7-30-4 NMSA 1978 is nineteen-hundredths percent, a distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the oil and gas reclamation fund in an amount equal to two-nineteenths of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act [Chapter 7, Article 30 NMSA 1978].
B. With respect to any period for which the total rate of the tax imposed on oil by Section 7-30-4 NMSA 1978 is twenty-four hundredths percent, a distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the oil and gas reclamation fund in an amount equal to nineteen and seven-tenths percent of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act.
History:
1978 Comp., § 7-1-6.21, enacted by Laws 1985, ch. 65, § 7; 1989, ch. 130, § 1; 1991, ch. 9, § 16; 2003, ch. 433, § 1; 2010, ch. 98, § 1.
ANNOTATIONS
The 2010 amendment,
effective May 19, 2010, in Subsection A, after "reclamation fund in", deleted "the" and added "an"; in Subsection B, after "for which the", added "total"; after "tax imposed", added "on oil"; after "Section 7-30-4 NMSA 1978 is", deleted "eighteen hundredths" and added "twenty-four hundredths"; after "reclamation fund in", deleted "the" and added "an"; and after "amount equal to", deleted "one-eighteenth" and added "nineteen and seven-tenths percent".
The 2003 amendment,
effective July 1, 2003, inserted the Subsection A designation; substituted "two-nineteenths" for "one-nineteenth" in the second percentage of Subsection A; and added Subsection B.
The 1991 amendment,
effective July 1, 1991, substituted "and Gas Reclamation" for "Conservation" in the catchline; deleted former Subsection A, relating to a distribution pursuant to 7-1-6.20 NMSA 1978 to the oil conservation fund; and deleted the subsection designation "B".
The 1989 amendment,
effective June 16, 1989, designated the formerly undesignated provisions as Subsection A, while inserting therein "the difference between" and adding all of the language following "Act", and added Subsection B.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.22 - Distributions to oil and gas production tax fund, oil and gas equipment tax fund and copper production tax fund; creation of funds.

A. A distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the "oil and gas production tax fund", hereby created in the state treasury, of the net receipts including advance payments, attributable to the Oil and Gas Ad Valorem Production Tax Act [Chapter 7, Article 32 NMSA 1978].
B. A distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the "oil and gas equipment tax fund", hereby created in the state treasury, of the net receipts attributable to the Oil and Gas Production Equipment Ad Valorem Tax Act [Chapter 7, Article 34 NMSA 1978].
C. A distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the "copper production tax fund", hereby created in the state treasury, of the net receipts attributable to the Copper Production Ad Valorem Tax Act [Chapter 7, Article 39 NMSA 1978].
History:
1978 Comp., § 7-1-6.22, enacted by Laws 1985, ch. 65, § 8; 1990, ch. 125, § 2; 1991, ch. 9, § 17.
ANNOTATIONS
The 1991 amendment,
effective July 1, 1991, inserted "including advance payments" in Subsection A.
The 1990 amendment,
effective March 7, 1990, inserted "and copper production tax fund" in the section heading, made a related stylistic change, and added Subsection C.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.23 - Distribution to severance tax bonding fund.

A distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the severance tax bonding fund of the net receipts attributable to the taxes and advance payment imposed pursuant to the Severance Tax Act [7-26-1 to 7-26-8 NMSA 1978] and the Oil and Gas Severance Tax Act [Chapter 7, Article 29 NMSA 1978].
History:
1978 Comp., § 7-1-6.23, enacted by Laws 1985, ch. 65, § 9; 1991, ch. 9, § 18.
ANNOTATIONS
Cross references.
— For the severance tax bonding fund,
see
7-27-2 NMSA 1978.
The 1991 amendment,
effective July 1, 1991, inserted "and advance payment".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.24 - Distribution; substance abuse education fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the substance abuse education fund of the amounts designated pursuant to Section 7-2-30 NMSA 1978 as contributions to that fund.
History:
1978 Comp., § 7-1-6.18, enacted by Laws 1987, ch. 265, § 3; 2017, ch. 63, § 10.
ANNOTATIONS
Compiler's notes.
— Laws 1987, ch. 257, § 1 and ch. 265, § 3 both enacted 7-1-6.18 NMSA 1978, thereby necessitating the renumbering of this section as 7-1-6.24 NMSA 1978.
Cross references.
— For substance abuse education fund,
see
9-7-17 NMSA 1978.
The 2017 amendment,
effective June 16, 2017, after the second occurrence of "Section", changed "7-2-28" to "7-2-30".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.25 - Distribution of petroleum products loading fee; corrective action fund; local governments road fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 of the net receipts attributable to the petroleum products loading fee shall be made to each of the following funds in the following amounts:
A. to the local governments road fund an amount equal to the net receipts attributable to a fee of forty dollars ($40.00) per load; and
B. to the corrective action fund the balance, if any, of the net receipts.
History:
1978 Comp., § 7-1-6.25, enacted by Laws 1988, ch. 70, § 9; 1990, ch. 124, § 13; 1993, ch. 298, § 1; 1995, ch. 6, § 6; 1996, ch. 82, § 1.
ANNOTATIONS
Cross references.
— For imposition of petroleum products loading fee,
see
7-13A-3 NMSA 1978.
For local governments road fund,
see
67-3-28.2 NMSA 1978.
For ground water protection corrective action fund,
see
74-6B-7 NMSA 1978.
The 1996 amendment,
effective July 1, 1996, deleted former Subsection B relating to ceasing imposition of the petroleum products loading fee when the corrective action fund is certified to equal or exceed $50,000,000, and rewrote the remaining provisions.
The 1995 amendment,
effective August 1, 1995, inserted "of petroleum products loading fee" and "local governments road fund" in the section heading; designated the former first and second sentences as Subsections A and B; deleted "shall be made to the corrective action fund" preceding "of the net receipts" and added the language beginning "shall be made" at the end of the introductory paragraph of Subsection A; and added Paragraphs A(1) and A(2).
The 1993 amendment,
effective April 7, 1993, substituted "fifty million dollars ($50,000,000)" for "twenty-five million dollars ($25,000,000)" and "secretary of environment" for "director of the environmental improvement division of the health and environment department" near the middle of the second sentence.
The 1990 amendment,
effective July 1, 1990, rewrote the section to the extent that a detailed comparison would be impracticable.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-6.28 - Distribution; municipal arterial program of local governments road fund.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the municipal arterial program of the local governments road fund created in Section 67-3-28.2 NMSA 1978 in an amount equal to one and forty-four hundredths percent of the net receipts attributable to the gasoline tax.
History:
1978 Comp., § 7-1-6.28, enacted by Laws 1991, ch. 9, § 22; 1993, ch. 357, § 7; 1994, ch. 5, § 13; 1995, ch. 6, § 8.
ANNOTATIONS
Repeals and reenactments.
— Laws 1991, ch. 9, § 22 repealed former 7-1-6.28 NMSA 1978, as enacted by Laws 1989, ch. 356, § 8, and enacted a new section, effective July 1, 1992.
Compiler's notes.
— Subsection A of Laws 1995, ch. 6, § 20 repeals 7-1-6.28 NMSA 1978 as enacted by Laws 1994, ch. 5, § 14, relating to distributions to the local governments road fund and which was to become effective August 1, 1997, effective June 16, 1995. For provisions of former section,
see
the 1994 NMSA 1978 on
NMOneSource.com.
The 1995 amendment,
effective August 1, 1995, substituted "Distribution" for "Distributions" and inserted "municipal arterial program of" in the section heading; deleted the Subsection A designation; substituted "one and forty-four hundredths" for "one and twenty-two hundredths"; and deleted former Subsection B relating to distributions pursuant to 7-1-6.1 NMSA 1978 to the local governments road fund.
The 1994 amendment,
effective August 1, 1994, rewrote the section heading, which read: "Distribution; municipal arterial program"; designated the previously undesignated language as Subsection A, and substituted "one and twenty-two hundredths" for "one and eleven-hundredths" therein; and added Subsection B.
The 1993 amendment,
effective August 1, 1993, substituted "one and eleven hundredths" for "one and fifty-three hundredths".