7-1-6.2. Distribution; small cities assistance fund.
79 words·~1 min read·
/nm/chapter-7-taxation/article-1-administration/7-1-6-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the small cities assistance fund in an amount equal to fifteen percent of the net receipts attributable to the compensating tax.
History: 1978 Comp., § 7-1-6.2, enacted by Laws 1983, ch. 211, § 7; 1984, ch. 25, § 2; 1988, ch. 129, § 2; 2012, ch. 5, § 3; 2025, ch. 130, § 11.