administrative fee. (Effective July 1, 2025.) A. A distribution for a metropolitan redevelopment project pursuant to the Metropolitan Redevelopment Code [N.M. Stat. Ann. Chapter 3, Article 60A] shall be made to the metropolitan redevelopment fund in accordance with the provisions of Subparagraph (b) of Paragraph (4) of Subsection B of Section 3-60A-21 N.M. Stat. Ann. with respect to a dedication of a gross receipts tax increment.

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B. The department shall withhold an administrative fee of three percent of the net amount to be distributed pursuant to Subsection A of this section, and the money from the fee shall be remitted to the state treasurer for deposit in the general fund each month.