New Mexico Statutes 66-2-7.2. Royalties; commercial users of motor vehicle-related databases; distribution to motor vehicle suspense fund
The department shall remit royalties and other consideration paid by commercial users of databases of motor vehicle-related records of the department pursuant to Subsection C of Section 14-3-15.1 N.M. Stat. Ann. to the motor vehicle suspense fund to be distributed in accordance with Section 66-6-23 N.M. Stat. Ann. and Subsection F of Section 66-6-13 N.M. Stat. Ann.. Royalties and other consideration paid to the department pursuant to this section are appropriated to the department for expenditure in fiscal year 2010 and subsequent fiscal years pursuant to this section. Unexpended and unencumbered balances of the amounts received pursuant to Subsection C of section 14-3-15.1 N.M. Stat. Ann. shall not revert to the general fund at the end of any fiscal year.
Terms Used In New Mexico Statutes 66-2-7.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.