New Mexico § 66-6-23.1 - Formulaic distribution

§ 66-6-23.1. Formulaic distribution

A. The balance from Section 66-6-23 NMSA 1978 shall be transferred or distributed by the state treasurer on or before the last

day of the month next after its receipt, as follows: (1) seventy-four and sixty-five hundredths percent shall be distributed to the state

road fund; (2) seven and six-tenths percent shall be transferred to each county in the proportion,

determined by the department in accordance with Subsection B of this section, that

the registration fees for vehicles in that county are to the total registration fees

for vehicles in all counties; (3) seven and six-tenths percent shall be transferred to the counties, with each county

receiving an amount equal to the proportion, determined by the secretary of transportation

in accordance with Subsection D of this section, that the mileage of public roads

maintained by the county is to the total mileage of public roads maintained by all

counties of the state. Amounts distributed to each county in accordance with this paragraph shall be credited

to the respective county road fund and be used for the improvement and maintenance

of the public roads in the county and to pay for the acquisition of rights of way

and material pits. For this purpose, the board of county commissioners of each of the respective counties

shall certify by April 1 of each year to the secretary of transportation the total

mileage as of April 1 of that year; provided that in their report, the boards of

county commissioners shall identify each of the public roads maintained by them by

name, route and location. By agreement and in cooperation with the department of transportation, the boards

of county commissioners of the various counties may use or designate any of the funds

provided in this paragraph for a federal aid program; (4) four and six-hundredths percent shall be allocated among the counties in the proportion,

determined by the department in accordance with Subsection B of this section, that

the registration fees for vehicles in that county are to the total registration fees

for vehicles in all counties. The amount allocated to each county shall be transferred to the incorporated municipalities

within the county in the proportion, determined by the department of finance and administration

in accordance with Subsection C of this section, that the sum of net taxable value , as that term is defined in the Property Tax Code, plus the assessed value, as that

term is used in the Oil and Gas Ad Valorem Production Tax Act and in the Oil and Gas

Production Equipment Ad Valorem Tax Act, determined for the incorporated municipality

is to the sum of net taxable value plus assessed value determined for all incorporated

municipalities within the county. Amounts transferred to incorporated municipalities pursuant to the provisions of

this paragraph shall be used for the construction, maintenance and repair of streets

within the municipality and for payment of paving assessments against property owned

by federal, county or municipal governments. In a county in which there are no incorporated municipalities, the amount allocated

pursuant to this paragraph shall be transferred to the county government road fund

and used in accordance with the provisions of Paragraph (3) of this subsection; and (5) six and nine-hundredths percent shall be allocated among the counties in the proportion,

determined by the department of finance and administration in accordance with Subsection

C of this section, that the registration fees for vehicles in that county are to the

total registration fees for vehicles in all counties. The amount allocated to each county shall be transferred to the county and incorporated

municipalities within the county in the proportion, determined by the department of

finance and administration in accordance with Subsection B of this section, that the

computed taxes due for the county and each incorporated municipality within the county

bear to the total computed taxes due for the county and incorporated municipalities

within the county. For the purposes of this paragraph, the term “ computed taxes due ” for a jurisdiction means the sum of the net taxable value, as that term is defined

in the Property Tax Code, plus the assessed value, as that term is used in the Oil

and Gas Ad Valorem Production Tax Act and in the Oil and Gas Production Equipment

Ad Valorem Tax Act, for that jurisdiction multiplied by an average of the rates for

residential and nonresidential property imposed for that jurisdiction pursuant to Subsection B of Section 7-37-7 NMSA 1978 . B. To carry out the provisions of this section, during the month of June of each year: (1) the department shall determine and certify to the department of finance and administration

the proportions that the department is required to determine pursuant to Subsection

A of this section using information for the preceding calendar year on the number

of vehicles registered in each county based on the address of the owner or place where

the vehicle is principally located, the registration fees for the vehicles registered

in each county, the total number of vehicles registered in the state and the total

registration fees for all vehicles registered in the state; and (2) the department of finance and administration shall determine the proportions that

the department of finance and administration is required to determine pursuant to this subsection based upon the net taxable value , as that term is defined in the Property Tax Code, and the assessed value, as that

term is used in the Oil and Gas Ad Valorem Production Tax Act and the Oil and Gas

Production Equipment Ad Valorem Tax Act, for the preceding tax year and the tax rates

imposed pursuant to Subsection B of Section 7-37-7 NMSA 1978 in the preceding September. C. By June 30 of each year, the department of finance and administration shall determine

the appropriate percentage of money to be transferred to each county and municipality

for each purpose in accordance with Subsection A of this section based upon the proportions

determined by or certified to the department of finance and administration. The percentages determined shall be used to compute the amounts to be transferred

to the counties and municipalities during the succeeding fiscal year. D. The board of county commissioners of each of the respective counties shall, by

April 1 of every year, certify reports to the secretary of transportation of the total

mileage of public roads maintained by each county as of April 1 of every year; provided

that in their reports, the boards of county commissioners shall identify each of the

public roads maintained by them by name, route and location. By July 1 of every year, the secretary of transportation shall verify the reports

of the counties and revise, if necessary, the total mileage of public roads maintained

by each county. The mileage verified by the secretary of transportation shall be the official mileage

of public roads maintained by each county. Distribution of amounts to a county for road purposes shall be made in accordance

with this section. E. If a county has not made the required mileage certification pursuant to Section 67-3-28.3 NMSA 1978 by April 1 of any year, the secretary of transportation shall estimate the mileage

maintained by those counties for the purpose of making distribution to all counties,

and the amount calculated to be distributed each month to those counties not certifying

mileage shall be reduced by one-third each month for that fiscal year, and that amount

not distributed to those counties shall be distributed equally to all counties that

have certified mileages.