New Mexico § 7-27-10.2 Transfer to severance tax permanent fund before

New Mexico Statutes

§ 7-27-10.2 — Transfer to severance tax permanent fund before

New Mexico § 7-27-10.2

Ch. 7Taxation

Art. 27Severance Tax Bonding Act

This text of New Mexico § 7-27-10.2 (Transfer to severance tax permanent fund before) 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. § 7-27-10.2 (2026).

Text

determining bonding capacity. On December 31 of each year from 2023 through 2033, the board of finance division of the department of finance and administration shall transfer ninety-two million dollars ($92,000,000) from the severance tax bonding fund to the severance tax permanent fund, unless the state board of finance determines that a lesser transfer amount is necessary pursuant to Section 7-27-8 NMSA 1978 to avoid a potential shortfall in debt service obligations.

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determining bonding capacity. On December 31 of each year from 2023 through 2033, the board of finance division of the department of finance and administration shall transfer ninety-two million dollars ($92,000,000) from the severance tax bonding fund to the severance tax permanent fund, unless the state board of finance determines that a lesser transfer amount is necessary pursuant to Section 7-27-8 NMSA 1978 to avoid a potential shortfall in debt service obligations.