New Mexico Statutes
Article 29 - Small Business Investment
Section 58-29-7 - Return to severance tax permanent fund.

Annually, no later than thirty days after the delivery of its annual report to the governor and the legislative finance committee, the corporation shall return to the severance tax permanent fund an amount equal to the net excess of funds held by the corporation. For purposes of this section, "net excess of funds" means the return on investments to the corporation in the amount of dividends and interest actually received plus any capital gains actually realized, less the operating expenses of the corporation and less amounts reasonably reserved for losses.
History: Laws 2003, ch. 399, § 10.
Effective dates. — Laws 2003, ch. 399, § 11 makes the act effective on April 8, 2003.

Structure New Mexico Statutes