N.M. Stat. § 7-1-6.67
This is the official text of N.M. Stat. § 7-1-6.67, part of New Mexico’s Stat — part of the compiled statutory law of New Mexico, published by the state as "Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 7-1-6.67. Distribution; Local Economic Development Act fund
Official statutory text
A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the Local Economic Development Act fund equal to the following amounts of the following taxes imposed and paid on the expenses related to the construction of the qualifying entity's economic development project, as determined pursuant to Section 2 of this 2021 act:
(1) fifty percent of the net receipts attributable to state gross receipts tax and the state compensating tax; and
(2) fifty percent of the net receipts attributable to the local option gross receipts tax and county compensating tax imposed by a county and local option gross receipts tax and municipal compensating tax imposed by a municipality.
B. As used in this section:
(1) “ economic development project ” means “economic development project” as used in the Local Economic Development Act; and
(2) “ qualifying entity ” means “qualifying entity” as used in the Local Economic Development Act.
(1) fifty percent of the net receipts attributable to state gross receipts tax and the state compensating tax; and
(2) fifty percent of the net receipts attributable to the local option gross receipts tax and county compensating tax imposed by a county and local option gross receipts tax and municipal compensating tax imposed by a municipality.
B. As used in this section:
(1) “ economic development project ” means “economic development project” as used in the Local Economic Development Act; and
(2) “ qualifying entity ” means “qualifying entity” as used in the Local Economic Development Act.
Status: in_force
Need a lawyer in New Mexico?
Find a New Mexico lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.