2015 New Mexico Statutes
Chapter 7 - Taxation
Section 1 Administration
Section 7-1-6.21 Distribution to oil and gas reclamation fund.
7-1-6.21. Distribution to oil and gas reclamation fund.
A. With respect to any period for which the rate of the tax imposed by Section 7-30-4 NMSA 1978 is nineteen-hundredths percent, a distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the oil and gas reclamation fund in an amount equal to two-nineteenths of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act [Chapter 7, Article 30 NMSA 1978].
B. With respect to any period for which the total rate of the tax imposed on oil by Section 7-30-4 NMSA 1978 is twenty-four hundredths percent, a distribution pursuant to Section 7-1-6.20 NMSA 1978 shall be made to the oil and gas reclamation fund in an amount equal to nineteen and seven-tenths percent of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act.
History: 1978 Comp., 7-1-6.21, enacted by Laws 1985, ch. 65, 7; 1989, ch. 130, 1; 1991, ch. 9, 16; 2003, ch. 433, 1; 2010, ch. 98, 1.
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