New Mexico § 7-1-6.11 - Distributions of cigarette taxes

§ 7-1-6.11. Distributions of cigarette taxes

A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the board of regents of the university of New Mexico for the benefit

of the comprehensive cancer center at the university of New Mexico health sciences

center in an amount equal to seventy-one hundredths percent of the net receipts, exclusive

of penalties and interest, attributable to the cigarette tax. B. A distribution pursuant to Section 7-1-6.1 NMSA 1978 in an amount equal to seven and fifty-two hundredths percent of the net receipts,

exclusive of penalties and interest, attributable to the cigarette tax, shall be made

on behalf of and for the benefit of the university of New Mexico health sciences center

for its comprehensive cancer center, until payment of all principal, interest and

other expenses or obligations related to the bonds authorized pursuant to Section

3 of this 2021 act and the New Mexico finance authority certifies to the secretary

of taxation and revenue that all obligations for the bonds have been fully discharged,

to the credit enhancement account. C. A distribution pursuant to Section 7-1-6.1 NMSA 1978 in an amount equal to three and seventeen hundredths percent of the net receipts,

exclusive of penalties and interest, attributable to the cigarette tax shall be made

to the New Mexico finance authority for land acquisition and the planning, designing,

construction and equipping of department of health facilities or improvements to such

facilities. D. A distribution pursuant to Section 7-1-6.1 NMSA 1978 in an amount equal to eight and twenty-six hundredths percent of the net receipts,

exclusive of penalties and interest, attributable to the cigarette tax shall be made

to the New Mexico finance authority for deposit in the credit enhancement account

created in the authority. E. A distribution pursuant to Section 7-1-6.1 NMSA 1978 in an amount equal to fifty-three hundredths percent of the net receipts, exclusive

of penalties and interest, attributable to the cigarette tax shall be made, on behalf

of and for the benefit of the rural county cancer treatment fund, to the New Mexico

finance authority.