Section 7-27-2 - Severance tax bonding fund created. - New-mexico Statutes

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Statutes > New-mexico > Chapter-7 > Article-27 > Section-7-27-2

7-27-2. Severance tax bonding fund created.

There is created the "severance tax bonding fund" into which shall be distributed, in accordance with the Tax Administration Act [7-1-1 NMSA 1978], the net receipts from taxes levied upon natural resource products severed and saved from the soil in accordance with the provisions of the Severance Tax Act [7-26-1 NMSA 1978] and the Oil and Gas Severance Tax Act [7-29-1 NMSA 1978] and into which shall be deposited such other money as the legislature may from time to time determine.

State Codes and Statutes

Statutes > New-mexico > Chapter-7 > Article-27 > Section-7-27-2

7-27-2. Severance tax bonding fund created.

There is created the "severance tax bonding fund" into which shall be distributed, in accordance with the Tax Administration Act [7-1-1 NMSA 1978], the net receipts from taxes levied upon natural resource products severed and saved from the soil in accordance with the provisions of the Severance Tax Act [7-26-1 NMSA 1978] and the Oil and Gas Severance Tax Act [7-29-1 NMSA 1978] and into which shall be deposited such other money as the legislature may from time to time determine.

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State Codes and Statutes

Statutes > New-mexico > Chapter-7 > Article-27 > Section-7-27-2

7-27-2. Severance tax bonding fund created.

There is created the "severance tax bonding fund" into which shall be distributed, in accordance with the Tax Administration Act [7-1-1 NMSA 1978], the net receipts from taxes levied upon natural resource products severed and saved from the soil in accordance with the provisions of the Severance Tax Act [7-26-1 NMSA 1978] and the Oil and Gas Severance Tax Act [7-29-1 NMSA 1978] and into which shall be deposited such other money as the legislature may from time to time determine.