Bill > HB88

This bill modifies the Land Grant-Merced Assistance Fund by making it a nonreverting fund, meaning any money remaining in the fund at the end of a fiscal year will not be returned to the general fund. It also adjusts the financial thresholds for land grants-mercedes, which are historical land grants with specific governance structures, to qualify for full or seventy-five percent distributions from the fund. Specifically, the bill raises the revenue threshold for a full distribution from $50,000 to $100,000, and for a seventy-five percent distribution, it changes the upper limit from "not more than $250,000" to "less than $250,000" while also changing the lower limit from "at least $50,000" to "at least $100,000." These changes aim to update the criteria for how these historical land grants receive financial assistance from the state.

Agriculture and Natural Resources, Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=88&year=26