A distribution pursuant to Section 7-1-6.1 N.M. Stat. Ann. 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 [N.M. Stat. Ann. Chapter 7, Article 9]. The distribution shall be made:

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A. after the required distribution pursuant to Section 7-1-6.4 N.M. Stat. Ann.;

B. 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

C. prior to any other distribution of net receipts attributable to the gross receipts tax.