us-nm/stat
NMSA 1978, § 7-12-16 — County and municipal cigarette tax fund; distribution
A.
There is created in the state treasury a fund to be known as the "county and
municipal cigarette tax fund." At the end of each month the state treasurer shall
distribute all sums remaining in the county and municipal cigarette tax fund to each
county and municipality in the state as follows:
(1) to each county in the proportion that the sales of cigarettes made within
the county borders, exclusive of the sales within any municipality in that county, bears to
the total sales of cigarettes in the state during such month; and
(2) to each municipality in the proportion that the sales of cigarettes made
within the municipality during such month bears to the total sales of cigarettes in the
state for such month.
B.
The funds so distributed to the counties and municipalities under this section
shall be deposited in the general fund of such counties and municipalities; provided, the
cigarette tax revenues distributed under the provision of this section shall not be
earmarked or otherwise obligated under the terms or provisions of any prior law, prior
local ordinance or prior bond agreement which pledges cigarette tax revenues to the
payment of any principal or interest of revenue bonds issued pursuant to such prior law,
prior local ordinance or prior bond agreement.
Source: official text