Statutes > New Mexico Statutes > Chapter 5 - Municipalities and Counties. > Article 15 - Tax Increment for Development, 5-15-1 through 5-15-28. > Section 5-15-27 - Dedication of gross receipts tax increment; notice to taxation and revenue department.

Section 5-15-27 - Dedication of gross receipts tax increment; notice to taxation and revenue department.

5-15-27. Dedication of gross receipts tax increment; notice to taxation and revenue department.

If the state board of finance or a taxing entity approves a dedication or increase in the dedication of a portion of a gross receipts tax increment to a district, the state board of finance or the taxing entity shall notify the taxation and revenue department of that approval at least one hundred twenty days before the effective date of the dedication or increase in the dedication.