Bill > SJR12

This Joint Resolution proposes an amendment to the New Mexico Constitution to allow for an additional distribution from the Land Grant Permanent Fund, which is a fund derived from lands granted to the state by Congress. The purpose of this additional distribution is to fund and sustain a longer school year for public school students in kindergarten through fifth grade. Specifically, it would allow for an annual distribution of one percent of the average market value of the fund over the preceding five years, starting in fiscal year 2017, provided that the fund's average market value is at least ten billion dollars. This amendment would be put to a vote of the people at the next general or special election.