Distribution of proceeds
Known as the Leased Vehicle Gross Receipts Tax Act
The act spans §§ 7–7 (12 sections).
Laws 1991, ch. 197, § 14; 1999 (1st S.S.), ch. 9, § 1.
At the end of each month, the net receipts attributable to the leased vehicle gross receipts tax and any associated penalties and interest shall be distributed as follows:
A. one-fourth to the local governments road fund; and
B. three-fourths to the highway infrastructure fund.
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.