NMSA 1978, § 7-1-6.53 — 7-1-6.53

Distribution; energy efficiency and renewable energy
bonding fund; gross receipts tax.
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 [Chapter
7, Article 9 NMSA 1978] in an amount necessary to make the required bond debt
service payments pursuant to the Energy Efficiency and Renewable Energy Bonding
Act [Chapter 6, Article 21D NMSA 1978] 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.