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Section 7-1-6.54 - Distributions; tax increment development districts.

NM Stat § 7-1-6.54 (2019) (N/A)
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A distribution for a tax increment development district shall be made by the department to a special fund of the district, in accordance with a notice that is filed pursuant to Section 5-15-27 NMSA 1978 with respect to a dedication of a gross receipts tax increment, to a special fund of the tax increment development district.

History: Laws 2006, ch. 75, § 29; 2019, ch. 275, § 9.

The 2019 amendment, effective July 1, 2019, required the taxation and revenue department to make distributions for a tax increment development district into a special fund of the district in accordance with a notice that is filed pursuant to Section 5-15-27 NMSA 1978; and after "distribution", deleted "to" and added "for", after "department", added "to a special fund of the district", after "pursuant to", deleted "the Tax Increment for Development Act" and added "Section 5-15-27 NMSA 1978", and after "tax increment, to", added "a special fund".

Applicability. — Laws 2019, ch. 275, § 10 provided that the provisions of this act shall not apply to dedications of gross receipts tax increments by the state board of finance made prior to July 1, 2019.

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