New Mexico § 7-14-10 Distribution of proceeds

New Mexico Statutes

§ 7-14-10 — Distribution of proceeds

New Mexico § 7-14-10

Ch. 7Taxation

Art. 14Motor Vehicle Excise Tax

This text of New Mexico § 7-14-10 (Distribution of proceeds) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 7-14-10 (2026).

Text

The receipts from the tax and any associated interest and penalties shall be deposited in the "motor vehicle suspense fund", hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed as follows: A. fifty-nine and thirty-nine hundredths percent to the general fund; B. twenty-one and eighty-six hundredths percent to the state road fund; and C. eighteen and seventy-five hundredths percent to the transportation project fund.

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The receipts from the tax and any associated interest and penalties shall be deposited in the "motor vehicle suspense fund", hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed as follows: A. fifty-nine and thirty-nine hundredths percent to the general fund; B. twenty-one and eighty-six hundredths percent to the state road fund; and C. eighteen and seventy-five hundredths percent to the transportation project fund.