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New Mexico Statutes Chapter 7. Taxation § 7-1-6.53. Distribution; energy efficiency and renewable energy bonding fund; gross receipts tax

Current as of January 01, 2024 | Updated by Findlaw Staff

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the energy efficiency and renewable energy bonding fund from the net receipts attributable to the gross receipts tax imposed by the Gross Receipts and Compensating Tax Act in an amount necessary to make the required bond debt service payments pursuant to the Energy Efficiency and Renewable Energy Bonding Act as determined by the New Mexico finance authority. The distribution shall be made:

A. after the required distribution pursuant to Section 7-1-6.4 NMSA 1978;

B. contemporaneously with other distributions of net receipts attributable to the gross receipts tax for payment of debt service on outstanding bonds or to a fund dedicated for that purpose; and

C. prior to any other distribution of net receipts attributable to the gross receipts tax.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 7. Taxation § 7-1-6.53. Distribution; energy efficiency and renewable energy bonding fund; gross receipts tax - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-7-taxation/nm-st-sect-7-1-6-53/

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