SENATE BILL 271
50th legislature - STATE OF NEW MEXICO - second session, 2012
INTRODUCED BY
John Arthur Smith
AN ACT
RELATING TO TAXATION; ELIMINATING THE FOOD AND MEDICAL HOLD HARMLESS PROVISIONS OVER A FIFTEEN-YEAR PERIOD; PROVIDING FOR A DELAYED REPEAL OF CERTAIN SECTIONS OF THE NMSA 1978 IN 2026; DISTRIBUTING REVENUE TO THE LOCAL GOVERNMENTS ROAD FUND.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 7-1-6.46 NMSA 1978 (being Laws 2004, Chapter 116, Section 1, as amended) is amended to read:
"7-1-6.46. DISTRIBUTION TO MUNICIPALITIES--OFFSET FOR FOOD DEDUCTION AND HEALTH CARE PRACTITIONER SERVICES DEDUCTION.--
[A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to a municipality in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of:
(1) for a municipality having a population of less than ten thousand according to the most recent federal decennial census and having per capita taxable gross receipts for the previous calendar year that are less than the average per capita taxable gross receipts for all municipalities for that same calendar year:
(a) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rate of all municipal local option gross receipts taxes in effect in the municipality for the month plus one and two hundred twenty-five thousandths percent; and
(b) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rate of all municipal local option gross receipts taxes in effect in the municipality for the month plus one and two hundred twenty-five thousandths percent; or
(2) for a municipality not described in Paragraph (1) of this subsection:
(a) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rate of all municipal local option gross receipts taxes in effect in the municipality on January 1, 2007 plus one and two hundred twenty-five thousandths percent; and
(b) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rate of all municipal local option gross receipts taxes in effect in the municipality on January 1, 2007 plus one and two hundred twenty-five thousandths percent.
B. The distribution pursuant to Subsection A]
A. For a municipality having a population of less than ten thousand according to the most recent federal decennial census and having per capita taxable gross receipts for the previous calendar year that are less than the average per capita taxable gross receipts for all municipalities for that same calendar year, a distribution pursuant to Section
7-1-6.1 NMSA 1978 shall be made to the municipality in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rates of all municipal local option gross receipts taxes in effect in the municipality for the month plus one and two hundred twenty-five thousandths percent:
(1) before July 1, 2012, one hundred percent;
(2) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(3) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(4) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(5) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(6) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(7) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(8) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(9) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(10) on or after July 1, 2020 but before July 1, 2021, forty percent;
(11) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(12) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(13) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(14) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(15) on or after July 1, 2025 but before July 1, 2026, six percent.
B. For a municipality having a population of less than ten thousand according to the most recent federal decennial census and having per capita taxable gross receipts for the previous calendar year that are less than the average per capita taxable gross receipts for all municipalities for that same calendar year, a distribution pursuant to Section
7-1-6.1 NMSA 1978 shall be made to the municipality in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deduction claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rates of all municipal local option gross receipts taxes in effect in the municipality for the month plus one and two hundred twenty-five thousandths percent:
(1) before July 1, 2012, one hundred percent;
(2) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(3) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(4) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(5) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(6) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(7) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(8) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(9) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(10) on or after July 1, 2020 but before July 1, 2021, forty percent;
(11) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(12) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(13) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(14) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(15) on or after July 1, 2025 but before July 1, 2026, six percent.
C. For a municipality not described in Subsection A of this section, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the municipality in an amount, subject to any increase or decrease made pursuant to Section
7-1-6.15 NMSA 1978, equal to the sum the following percent of the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rates of all municipal local option gross receipts taxes in effect in the municipality on January 1, 2007 plus one and two hundred twenty-five thousandths percent:
(1) before July 1, 2012, one hundred percent;
(2) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(3) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(4) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(5) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(6) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(7) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(8) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(9) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(10) on or after July 1, 2020 but before July 1, 2021, forty percent;
(11) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(12) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(13) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(14) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(15) on or after July 1, 2025 but before July 1, 2026, six percent.
D. For a municipality not described in Subsection B of this section, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the municipality in an amount, subject to any increase or decrease made pursuant to Section
7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deduction claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations attributable to the municipality multiplied by the sum of the combined rates of all municipal local option gross receipts taxes in effect in the municipality on January 1, 2007 plus one and two hundred twenty-five thousandths percent:
(1) before July 1, 2012, one hundred percent;
(2) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(3) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(4) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(5) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(6) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(7) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(8) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(9) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(10) on or after July 1, 2020 but before July 1, 2021, forty percent;
(11) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(12) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(13) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(14) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(15) on or after July 1, 2025 but before July 1, 2026, six percent.
E. Until July 1, 2026, the distributions pursuant to Subsections A through D of this section [is] are in lieu of revenue that would have been received by the municipality but for the deductions provided by Sections 7-9-92 and 7-9-93 NMSA 1978. The [distribution] distributions shall be considered gross receipts tax revenue and shall be used by the municipality in the same manner as gross receipts tax revenue, including payment of gross receipts tax revenue bonds. F. If the reductions made by this 2012 act to the distributions made pursuant to Subsections A through D of this section impair the ability of a municipality to meet its principal or interest payment obligations for revenue bonds that are outstanding prior to July 1, 2012 and that are secured by the pledge of all or part of the municipality's revenue from gross receipts taxes, then the amount distributed pursuant to this section to that municipality shall be increased by an amount sufficient to meet the required payment; provided that the total amount distributed to that municipality pursuant to this section does not exceed the amount that would have been due that municipality pursuant to this section as it was in effect on June 30, 2012.
[C. For the purposes of] G. As used in this section, "business locations attributable to the municipality" means business locations:
(1) within the municipality;
(2) on land owned by the state, commonly known as the "state fairgrounds", within the exterior boundaries of the municipality;
(3) outside the boundaries of the municipality on land owned by the municipality; and
(4) on an Indian reservation or pueblo grant in an area that is contiguous to the municipality and in which the municipality performs services pursuant to a contract between the municipality and the Indian tribe or Indian pueblo if:
(a) the contract describes an area in which the municipality is required to perform services and requires the municipality to perform services that are substantially the same as the services the municipality performs for itself; and
(b) the governing body of the municipality has submitted a copy of the contract to the secretary.
[D.] H. A distribution pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a municipality pursuant to the Tax Increment for Development Act."
SECTION 2. Section 7-1-6.47 NMSA 1978 (being Laws 2004, Chapter 116, Section 2, as amended) is amended to read:
"7-1-6.47. DISTRIBUTION TO COUNTIES--OFFSET FOR FOOD DEDUCTION AND HEALTH CARE PRACTITIONER SERVICES DEDUCTION.--
[A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to a county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of:
(1) for a county having a population of less than forty-eight thousand according to the most recent federal decennial census:
(a) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed throughout the county;
(b) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area not within a municipality;
(c) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed throughout the county; and
(d) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area not within a municipality; or
(2) for a county not described in Paragraph (1) of this subsection:
(a) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect on January 1, 2007 that are imposed throughout the county;
(b) the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 for the month by taxpayers from business locations in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect on January 1, 2007 that are imposed in the county area not within a municipality;
(c) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect on January 1, 2007 that are imposed throughout the county; and
(d) the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 for the month by taxpayers from business locations in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect on January 1, 2007 that are imposed in the county area not within a municipality.]
A. For a county having a population of less than forty-eight thousand according to the most recent federal decennial census, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 by taxpayers from business locations:
(1) within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed throughout the county:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent; and
(2) in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent.
B. For a county having a population of less than forty-eight thousand according to the most recent federal decennial census, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 by taxpayers from business locations:
(1) within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed throughout the county:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent; and
(2) in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent.
C. For a county not described in Subsection A of this section, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deductions claimed pursuant to Section 7-9-92 NMSA 1978 by taxpayers from business locations:
(1) within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect on January 1, 2007 that are imposed throughout the county:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent; and
(2) in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent.
D. For a county not described in Subsection B of this section, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the sum of the following percent of the total deductions claimed pursuant to Section 7-9-93 NMSA 1978 by taxpayers from business locations:
(1) within a municipality in the county multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed throughout the county:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent; and
(2) in the county but not within a municipality multiplied by the combined rate of all county local option gross receipts taxes in effect for the month that are imposed in the county area:
(a) before July 1, 2012, one hundred percent;
(b) on or after July 1, 2012 but before July 1, 2013, ninety-three percent;
(c) on or after July 1, 2013 but before July 1, 2014, eighty-seven percent;
(d) on or after July 1, 2014 but before July 1, 2015, eighty percent;
(e) on or after July 1, 2015 but before July 1, 2016, seventy-three percent;
(f) on or after July 1, 2016 but before July 1, 2017, sixty-seven percent;
(g) on or after July 1, 2017 but before July 1, 2018, sixty percent;
(h) on or after July 1, 2018 but before July 1, 2019, fifty-three percent;
(i) on or after July 1, 2019 but before July 1, 2020, forty-seven percent;
(j) on or after July 1, 2020 but before July 1, 2021, forty percent;
(k) on or after July 1, 2021 but before July 1, 2022, thirty-three percent;
(l) on or after July 1, 2022 but before July 1, 2023, twenty-seven percent;
(m) on or after July 1, 2023 but before July 1, 2024, twenty percent;
(n) on or after July 1, 2024 but before July 1, 2025, thirteen percent; and
(o) on or after July 1, 2025 but before July 1, 2026, six percent.
[B.] E. The [distribution pursuant to Subsection A] distributions pursuant to Subsections A through D of this section [is] are in lieu of revenue that would have been received by the county but for the deductions provided by Sections 7-9-92 and 7-9-93 NMSA 1978. The [distribution] distributions shall be considered gross receipts tax revenue and shall be used by the county in the same manner as gross receipts tax revenue, including payment of gross receipts tax revenue bonds.
F. If the reductions made by this 2012 act to the distributions made pursuant to Subsections A through D of this section impair the ability of a county to meet its principal or interest payment obligations for revenue bonds that are outstanding prior to July 1, 2012 and that are secured by the pledge of all or part of the county's revenue from gross receipts taxes, then the amount distributed pursuant to this section to that county shall be increased by an amount sufficient to meet the required payment; provided that the total amount distributed to that county pursuant to this section does not exceed the amount that would have been due that county pursuant to this section as it was in effect on June 30, 2012.
[C.] G. A distribution pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a county pursuant to the Tax Increment for Development Act."
SECTION 3. A new section of the Tax Administration Act is enacted to read:
"[NEW MATERIAL] DISTRIBUTION--LOCAL GOVERNMENTS ROAD
FUND DUE TO REDUCTION OF HOLD HARMLESS PROVISIONS FOR FOOD AND MEDICAL GROSS RECEIPTS DEDUCTIONS.--
A. A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made each month to the local governments road fund from the net receipts attributable to the gross receipts tax in an amount equal to:
(1) for fiscal years 2013 through 2016, six hundred sixty-six thousand dollars ($666,000);
(2) for fiscal years 2017 through 2020, one million three hundred thirty-two thousand dollars ($1,332,000);
(3) for fiscal years 2021 through 2024, one million nine hundred ninety-eight thousand dollars ($1,998,000);
(4) for fiscal years 2025 and 2026, two million six hundred sixty-four thousand dollars ($2,664,000); and
(5) for fiscal year 2027 and subsequent fiscal years, no distribution shall be made to the local governments road fund pursuant to this section.
B. The money shall be distributed according to the provisions of Section 67-3-28.2 NMSA 1978."
SECTION 4. DELAYED REPEAL.--Sections 7-1-6.46 and 7-1-6.47 NMSA 1978 (being Laws 2004, Chapter 116, Sections 1 and 2, as amended) are repealed effective July 1, 2026.
SECTION 5. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2012.
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