NMSA 1978, § 7-1-6.54 — 7-1-6.54

Distributions; tax increment development districts;
administrative fee.

# A.

A distribution for a tax increment development district shall be made by the
department to a special fund of the district, in accordance with a notice that is filed
pursuant to Section 5-15-27 NMSA 1978 with respect to a dedication of a gross receipts
tax increment, to a special fund of the tax increment development district.

# B.

The department shall withhold an administrative fee of three percent of the net
amount to be distributed pursuant to Subsection A of this section, and the money from
the fee shall be remitted to the state treasurer for deposit in the general fund each
month.