NMSA 1978, § 7-1-6.71 — 7-1-6.71

Distribution; metropolitan redevelopment fund;
administrative fee.

# A.

A distribution for a metropolitan redevelopment project pursuant to the
Metropolitan Redevelopment Code [Chapter 3, Article 60A NMSA 1978] shall be made
to the metropolitan redevelopment fund in accordance with the provisions of
Subparagraph (b) of Paragraph (4) of Subsection B of Section 3-60A-21 NMSA 1978
with respect to a dedication of a gross receipts tax increment.

# 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.