New Mexico § 7-1-6.41 - Administrative fee imposed; appropriation
Full text of New Mexico New Mexico Statutes Annotated § 7-1-6.41 — Administrative fee imposed; appropriation, with citation guidance and answers to common questions.
§ 7-1-6.41. Administrative fee imposed; appropriation
A. The taxation and revenue department is directed to withhold an administrative fee
of three percent of the net amount to be distributed under the provisions of: (1) Section 7-1-6.32 NMSA 1978; (2) Section 66-12-20 NMSA 1978; and (3) Section 74-1-13 NMSA 1978 . B. The administrative fee to be withheld pursuant to Subsection A of this section
shall be withheld on distributions made on or after July 1, 1997 and shall continue
until the earlier of December 31, 2006 or the date on which the New Mexico finance
authority certifies to the taxation and revenue department that all obligations for
bonds issued pursuant to Section 12 of this 1997 act have been fully discharged and
directs the department to cease distributing money to the authority pursuant to this
section. C. The taxation and revenue department is directed to withhold an additional administrative
fee at the following percentage of the net amount to be distributed pursuant to the
following provisions of law: (1) two percent of the net amount to be distributed pursuant to Section 7-1-6.12 NMSA 1978; and (2) six-tenths of one percent of the net amount to be distributed pursuant to Section 7-1-6.13 NMSA 1978 . D. The administrative fee to be withheld under Subsection C of this section shall
be withheld on distributions made on or after July 1, 1997 and shall continue until
the earlier of July 1, 2000 or the date on which the New Mexico finance authority
certifies to the taxation and revenue department that all obligations for bonds issued
pursuant to Section 12 of this 1997 act have been fully discharged and directs the
department to cease distributing money to the authority pursuant to this section. E. The administrative fee to be withheld by the taxation and revenue department under Section 7-1-6.12 and 7-1-6.13 NMSA 1978 shall be set at three percent of the net amount to be distributed pursuant to the
provisions of those sections. F. The administrative fee to be withheld under Subsection E of this section shall
be withheld on distributions made on or after July 1, 2000 and shall continue until
the earlier of December 31, 2006 or the date on which the New Mexico finance authority
certifies to the taxation and revenue department that all obligations for bonds issued
pursuant to Section 12 of this 1997 act have been fully discharged and directs the
department to cease distributing money to the authority pursuant to this section. After the department has been directed by the authority to cease distributing money
to the authority pursuant to this section, the administrative fee shall be remitted
to the state treasurer for deposit in the state general fund each month. G. The administrative fee shall be distributed monthly to the New Mexico finance authority
to be pledged irrevocably for the payment of principal, interest and any expenses
or obligations related to the bonds issued by the authority to finance the taxation
and revenue information management systems project.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 7-1-6.41
What does New Mexico Statutes Annotated § 7-1-6.41 cover?
Section 7-1-6.41 ("Administrative fee imposed; appropriation") 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 § 7-1-6.41?
A common citation format is "New Mexico Statutes Annotated § 7-1-6.41" (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 § 7-1-6.41 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.