New Mexico § 7-1-6.67 - Distribution; Local Economic Development Act fund
Full text of New Mexico New Mexico Statutes Annotated § 7-1-6.67 — Distribution; Local Economic Development Act fund, with citation guidance and answers to common questions.
§ 7-1-6.67. Distribution; Local Economic Development Act fund
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.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 7-1-6.67
What does New Mexico Statutes Annotated § 7-1-6.67 cover?
Section 7-1-6.67 ("Distribution; Local Economic Development Act fund") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 7-1-6.67?
A common citation format is "New Mexico Statutes Annotated § 7-1-6.67" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 7-1-6.67 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.