7-1-6.21: Distribution to oil and gas reclamation fund. (Effective July 1, 2027.)

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 the following percentages of the net receipts attributable to the tax imposed under the Oil and Gas Conservation Tax Act [Chapter 7, Article 30 NMSA 1978]:

A. beginning July 1, 2027 and prior to July 1, 2028, fifty percent;

B. beginning July 1, 2028 and prior to July 1, 2029, seventy-five percent;

C. beginning July 1, 2029 and prior to July 1, 2037, one hundred percent; and

D. beginning July 1, 2037, fifty percent.