Bill > SJR16

This Joint Resolution proposes an amendment to the New Mexico Constitution that would require at least five percent of the cash holdings managed by the State Investment Officer to be deposited in banks, savings and loan associations, and credit unions that are chartered and located within New Mexico. This means that a portion of the state's readily available money, not currently invested in interest-bearing securities, would be specifically directed to financial institutions operating within the state, aiming to support local economies. The proposed change would be presented to New Mexico voters for their approval or rejection at the next general election.