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Key Votes

HJR 10 - Extends Education Disbursements from the Land Grant Fund - Key Vote

New Mexico Key Votes

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Legislation-Joint Resolution - Joint Resolution Passed (House) (36-33) - (Key vote)

Title: Extends Education Disbursements from the Land Grant Fund

Vote Smart's Synopsis:

Vote to pass a joint resolution that submits a constitutional amendment to the voters extending the annual distribution percentage from the Land Grant Fund to the permanent school fund.

Highlights:
  • Extends the annual 5.8%  distribution from the Land Grant Fund to the permanent school fund indefinitely, whereas current law reduces the distribution to 5.5% in 2013 and 5% in 2016 (Sec. 1).
  • Authorizes the legislature to reduce the annual distribution from the Land Grant Fund to the permanent school fund by 0.8% with a 3/5 vote (Sec. 1).
  • Reduces the annual distribution from the Land Grant Fund to the permanent school fund by 0.8% if the Land Grant Fund falls below $8 billion in value (Sec. 1).
Note:

NOTE: AN AMENDMENT TO THE CONSTITUTION REQUIRES MAJORITY APPROVAL IN EACH CHAMBER FOR PASSAGE. IT MUST THEN BE APPROVED BY A MAJORITY OF CITIZENS VOTING IN THE NEXT ELECTION TO BECOME ENACTED.

Legislation-Joint Resolution - Introduced (House) -

Title: Extends Education Disbursements from the Land Grant Fund

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