NMSA 1978, § 7-27-10.2 — 7-27-10.2

Transfer to severance tax permanent fund before
determining bonding capacity.
On December 31 of each year from 2023 through 2033, the board of finance division
of the department of finance and administration shall transfer ninety-two million dollars
($92,000,000) from the severance tax bonding fund to the severance tax permanent
fund, unless the state board of finance determines that a lesser transfer amount is
necessary pursuant to Section 7-27-8 NMSA 1978 to avoid a potential shortfall in debt
service obligations.