2021 New Mexico Statutes
Article 29B - Natural Gas and Crude Oil Production Incentives
Section 7-29B-5 - Notice to secretary of taxation and revenue.

The division shall notify immediately the secretary of taxation and revenue upon:
A. adoption of rules pursuant to the provisions of the Natural Gas and Crude Oil Production Incentive Act;
B. certification of the date that production has been restored on a production restoration project;
C. certification of the date that a well workover project has been completed; and
D. certification of the stripper well properties for the fiscal year.
History: Laws 1995, ch. 15, § 5; 1999, ch. 256, § 6.
The 1999 amendment, effective June 18, 1999, deleted "and regulations" following "rules" in Subsection A, and added Subsection D.

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Structure 2021 New Mexico Statutes

2021 New Mexico Statutes

Chapter 7 - Taxation

Article 29B - Natural Gas and Crude Oil Production Incentives

Section 7-29B-1 - Short title.

Section 7-29B-2 - Definitions.

Section 7-29B-3 - Approval of production restoration projects, well workover projects and stripper well properties.

Section 7-29B-4 - Application procedures; certification of approval; rules; administration.

Section 7-29B-5 - Notice to secretary of taxation and revenue.

Section 7-29B-6 - Qualification for production restoration incentive tax exemption and well workover and stripper well property incentive tax rate; secretary of taxation and revenue approval; refund.