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2019 New Mexico Statutes
Chapter 7 - Taxation
Article 27 - Severance Tax Bonding Act
Section 7-27-3 - Severance tax permanent fund created.
Universal Citation: NM Stat § 7-27-3 (2019)
There is created in the state treasury the "severance tax permanent fund".
History: 1953 Comp., § 72-18-30.1, enacted by Laws 1973, ch. 294, § 2; 1996, ch. 3, § 1.
ANNOTATIONSThe 1996 amendment, effective upon certification by the secretary of state that the proposed amendments to art. 8, § 10 and art. 12, §§ 2, 4, and 7 of the New Mexico Constitution have passed, substituted "fund created" for "and income funds" in the section heading, substituted "is" for "are" preceding "created in", and deleted "and the 'severance tax income fund'" from the end of the section. Those constitutional amendments, proposed by S.J.R. No. 2 (Laws 1996), were adopted at the general election held November 5, 1996, by a vote of 307,442 for and 153,021 against.
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