Section 7-29A-4 - Notification to the secretary of taxation and revenue; duties of the secretary.
7-29A-4. Notification to the secretary of taxation and revenue; duties of the secretary.
A. The division shall immediately notify the secretary of taxation and revenue upon:
(1) certifying that a positive production response has occurred for an enhanced oil recovery project, in which case the notice shall contain the date certification was made and the date positive production response occurred;
(2) receiving notification of termination of an enhanced recovery project, in which case the notice shall contain the date of termination; and
(3) adopting and promulgating rules and regulations pursuant to the provisions of the Enhanced Oil Recovery Act [7-29A-1 NMSA 1978].
B. The secretary of taxation and revenue shall adopt and promulgate rules and regulations to enforce the provisions of the Enhanced Oil Recovery Act.