Distribution of special fuel excise tax to local governments road fund.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Administration
  5. Distribution of special fuel excise tax to local governments road fund.

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A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the local governments road fund in an amount equal to nine and fifty-two hundredths percent of the net receipts attributable to the taxes, exclusive of penalties and interest, from the special fuel excise tax imposed by the Special Fuels Supplier Tax Act [Chapter 7, Article 16A NMSA 1978].

History: 1978 Comp., § 7-1-6.39, enacted by Laws 1995, ch. 6, § 9; 2003 (1st S.S.), ch. 3, § 2.

ANNOTATIONS

Cross references. — For the local governments road fund, see 67-3-28.2 NMSA 1978.

The 2003 (1st S.S.) amendment, effective July 1, 2004, substituted "nine and fifty-two" for "eleven and eleven" following "amount equal to" near the middle of the section.


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