NMSA 1978, § 7-1-6.12 — 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 the administrative fee that may be withheld prior
to July 1, 2028 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 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 7-1-6.71 NMSA 1978 and with
respect to the amount dedicated by a municipality pursuant to Section 3-60A-23 NMSA
1978.