A boost to New Mexico government: revenues improving
From Ballotpedia
July 15, 2011
SANTA FE, New Mexico: According to update estimates released today, New Mexico will have an additional $360 million in revenue available for the upcoming budget year.[1]
Governor Susan Martinez's office warned legislators not to spend all the new revenue at once.[1]
Among the $360 million are the following budget alterations:
- An extra $111 million in revenue from Fiscal Year 2010-2011.
- About $120 million extra in expected revenue for Fiscal Year 2011-2012.
Estimates are that about $5.8 billion will be collected by New Mexico in the coming fiscal year.[1]
Senator John Arthur Smith (D) said the new money will allow the state to replenish existing programs that had been raided to balance the budget.[1]
Starting next year, agencies will start implementing zero-based budgeting per the request of Governor Martinez.[1]
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