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2013 New Mexico Statutes
Chapter 7 - Taxation
Article 27 - Severance Tax Bonding Act
Section 7-27-2 - Severance tax bonding fund created. (1985)


NM Stat § 7-27-2 (2013) What's This?

7-27-2. Severance tax bonding fund created. (1985) 
There is created the "severance tax bonding fund" into which shall be distributed, in accordance with the Tax Administration Act [7-1-1 NMSA 1978], the net receipts from taxes levied upon natural resource products severed and saved from the soil in accordance with the provisions of the Severance Tax Act [7-26-1 NMSA 1978] and the Oil and Gas Severance Tax Act [7-29-1 NMSA 1978] and into which shall be deposited such other money as the legislature may from time to time determine.   
  History: 1953 Comp., § 72-18-30, enacted by Laws 1961, ch. 5, § 3; 1973, ch. 294, § 1; 1985, ch. 65, § 26. 

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