New Mexico governor says permanent fund is off limits

New Mexico Roundhouse 2016

SANTA FE, N.M. (AP) – New Mexico Gov. Susana Martinez wants incoming state lawmakers to know that the state’s land grant permanent fund should be off-limits from efforts to resolve a budget deficit.

Martinez and other members of the State Investment Council that oversee the investment of $20.8 billion in state assets discussed Tuesday ways to inform newly elected legislators that the State Land Grant Permanent Fund is an endowment and not a rainy-day fund for use in lean budget years.

Republican lawmakers this year blocked a proposed constitutional amendment to distribute more money from the Land Grant Permanent Fund to public education and specialty schools. Democratic lawmakers are looking anew toward state investment funds to pay for early childhood education initiatives and support small businesses after reclaiming full majority control of the Legislature.

KRQE.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s