Subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, 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.
§ 7-1-6.2 NMSA 1978
Distribution; small cities assistance fund
Known as the Tax Administration Act
The act spans §§ 7–7 (198 sections).
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; 2025, ch. 130, § 11.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.