Create All Cities & Counties Fund

Where it is in the process

Plain-English Summary

This bill creates the "All Cities and Counties Fund" in New Mexico to share a portion of gross receipts tax revenue with local governments. Each year, the Taxation and Revenue Department will calculate how much money to transfer from this fund to individual municipalities and counties based on formulas that consider population and local tax revenue. The first transfers are set to occur by November 1, 2027.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

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