2011 New Mexico Statutes
Chapter 60: Business Licenses
Article 1A: Horse Racing Act, 60-1A-1 through 60-1A-30
Section 60-1A-23: Horse racing suspense account. (Repealed effective July 1, 2018.)


NM Stat § 60-1A-23 (1996 through 1st Sess 50th Legis) What's This?

60-1A-23. Horse racing suspense account. (Repealed effective July 1, 2018.)

A. The "horse racing suspense account" is created in the state treasury to hold funds remitted to the commission for payment of all legal claims for refunds.

B. Money in the horse racing suspense account exceeding three thousand dollars ($3,000) shall be transferred to the taxation and revenue department for deposit in the general fund.

C. The money in the horse racing suspense account shall be used to pay claims for refunds that have been determined by the commission to be legally due to the remitter.

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