At the end of each month, the net receipts attributable to the leased vehicle gross receipts tax and any associated penalties and interest shall be distributed as follows: A. one-fourth to the local governments road fund; and B. three-fourths to the highway infrastructure fund. History: Laws 1991, ch. 197, § 14; 1999 (1st S.S.), ch. 9, § 1. ANNOTATIONSThe 1999 amendment, effective July 1, 1999, substituted present Subsections A and B for former Subsections A and B, relating to the manner of distribution of the net receipts.
New Mexico Legal Code