46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO THE GAMING TAX; DISTRIBUTING A PORTION OF GAMING TAX REVENUES TO GAMING-AFFECTED MUNICIPALITIES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Tax Administration Act is enacted to read:

"[NEW MATERIAL] DISTRIBUTION--GAMING TAX TO AFFECTED MUNICIPALITIES.--

A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to gaming-affected municipalities in a total aggregate amount equal to twenty-four and one-half percent of the net receipts, exclusive of penalties and interest, attributable to the gaming tax. The amount of the total distribution distributed to each gaming-affected municipality shall be in the same proportion as that municipality's population is to the total population of all gaming-affected municipalities.

B. As used in this section:

(1) "gaming-affected municipality" means a municipality within whose boundaries or within ten miles of whose boundaries is located a licensed gaming operator or a gaming establishment within the jurisdiction of an Indian nation, tribe or pueblo; and

(2) "municipality's population" means the population of the municipality as shown in the most recent federal decennial census."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2003.