Distributions; tax increment development districts;

administrative fee. A. A distribution for a tax increment development district shall be made by the department to a special fund of the district, in accordance with a notice that is filed pursuant to Section 5-15-27 NMSA 1978 with respect to a dedication of a gross receipts tax increment, to a special fund of the tax increment development district. B. The department shall withhold an administrative fee of three percent of the net amount to be distributed pursuant to Subsection A of this section, and the money from the fee shall be remitted to the state treasurer for deposit in the general fund each month. History: Laws 2006, ch. 75, § 29; 2019, ch. 275, § 9; 2024, ch. 59, § 5.