2018 New Mexico Statutes
Chapter 7 - Taxation
Article 1 - Administration
Section 7-1-6.25 - Distribution of petroleum products loading fee; corrective action fund; local governments road fund.
A distribution pursuant to Section 7-1-6.1 NMSA 1978 of the net receipts attributable to the petroleum products loading fee shall be made to each of the following funds in the following amounts:
A. to the local governments road fund an amount equal to the net receipts attributable to a fee of forty dollars ($40.00) per load; and
B. to the corrective action fund the balance, if any, of the net receipts.
History: 1978 Comp., § 7-1-6.25, enacted by Laws 1988, ch. 70, § 9; 1990, ch. 124, § 13; 1993, ch. 298, § 1; 1995, ch. 6, § 6; 1996, ch. 82, § 1.
Cross references. — For imposition of petroleum products loading fee, see 7-13A-3 NMSA 1978.
For local governments road fund, see 67-3-28.2 NMSA 1978.
For ground water protection corrective action fund, see 74-6B-7 NMSA 1978.
The 1996 amendment, effective July 1, 1996, deleted former Subsection B relating to ceasing imposition of the petroleum products loading fee when the corrective action fund is certified to equal or exceed $50,000,000, and rewrote the remaining provisions.
The 1995 amendment, effective August 1, 1995, inserted "of petroleum products loading fee" and "local governments road fund" in the section heading; designated the former first and second sentences as Subsections A and B; deleted "shall be made to the corrective action fund" preceding "of the net receipts" and added the language beginning "shall be made" at the end of the introductory paragraph of Subsection A; and added Paragraphs A(1) and A(2).
The 1993 amendment, effective April 7, 1993, substituted "fifty million dollars ($50,000,000)" for "twenty-five million dollars ($25,000,000)" and "secretary of environment" for "director of the environmental improvement division of the health and environment department" near the middle of the second sentence.
The 1990 amendment, effective July 1, 1990, rewrote the section to the extent that a detailed comparison would be impracticable.
