{"data":{"id":"us-nm/7-1-6.42--2","jurisdiction":"us-nm","citation":"7-1-6.42","heading":"Distribution; state building bonding fund; gross receipts tax. (Contingent effective date. See note below.)","body":"A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state building bonding fund in the amount of six hundred eighty thousand dollars ($680,000) from the net receipts attributable to the gross receipts tax imposed by the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978]. The distribution shall be made:\nA. after the required distribution pursuant to Section 7-1-6.4 NMSA 1978;\nB. contemporaneously with other distributions of net receipts attributable to the gross receipts tax for payment of debt service on outstanding bonds or to a fund dedicated for that purpose; and\nC. prior to any other distribution of net receipts attributable to the gross receipts tax.","path":["Chapter 7 - Taxation","ARTICLE 1 Administration"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"9b5fa0ed8e9aeac2e1ba6cc878187cd94854483bc27d0a0d90999b8dfa0ce70e","source_id":"us-nm","stale":false,"prev":"us-nm/7-1-6.42","next":"us-nm/7-1-6.43"},"notice":"GroundRules: Original legal text. Not legal advice."}