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NM HJR1

NM HJR1
Permanent Fund For Early Childhood, Ca


summary

Introduced
01/19/2021
In Committee
03/16/2021
Crossed Over
02/12/2021
Passed
03/18/2021
Dead
Signed/Enacted/Adopted
03/19/2021

Introduced Session

2021 Regular Session

Bill Summary

A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE 12, SECTION 7 OF THE CONSTITUTION OF NEW MEXICO, SUBJECT TO THE APPROVAL OF CONGRESS, TO PROVIDE FOR ADDITIONAL ANNUAL DISTRIBUTIONS OF THE PERMANENT FUNDS, INCLUDING DISTRIBUTIONS FROM THE PERMANENT SCHOOL FUND FOR EARLY CHILDHOOD EDUCATIONAL SERVICES. .

AI Summary

This Joint Resolution proposes an amendment to the New Mexico Constitution to allow for additional annual distributions from the state's permanent funds, specifically including the Permanent School Fund, for early childhood educational services. The Permanent School Fund is a collection of money derived from lands granted to the state by Congress in 1910, intended to support public education. The proposed change would permit a one percent distribution from the average market value of these funds, provided that value exceeds ten billion dollars, to fund nonsectarian and nondenominational services for children before they enter kindergarten. This amendment requires approval from both the New Mexico Legislature and the U.S. Congress before it can be put to a vote by the people of New Mexico.

Committee Categories

Budget and Finance, Business and Industry, Education

Sponsors (32)

Last Action

Signed by one or both houses (for legislation not requiring Governor's signature) (on 03/19/2021)

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