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New Mexico Land Grant Permanent Fund Distribution for Pre-Kindergarten Education Amendment (2020)
| New Mexico Land Grant Permanent Fund Distribution for Pre-Kindergarten Education Amendment | |
|---|---|
 | |
| Election date November 3, 2020 | |
| Topic State and local government budgets, spending and finance and Education | |
| Status Not on the ballot | |
| Type Constitutional amendment | Origin State legislature |
The New Mexico Land Grant Permanent Fund Distribution for Pre-Kindergarten Education Amendment was not on the ballot in New Mexico as a legislatively referred constitutional amendment on November 3, 2020.
The ballot measure would have distributed 1 percent of the five-year average of year-end market values of money in the Land Grant Permanent Fund to nonsectarian pre-kindergarten education services.[1]
The LGPF was also known as the Permanent School Fund. As of 2019, revenue in the LGPF came from leases and royalties on non-renewable natural resources, such as oil and gas, and returns on invested capital.[2] The New Mexico Constitution provided that the annual distribution from the fund is 5 percent. This amendment would have increased the total annual distribution to 6 percent. The New Mexico State Legislature would have been authorized to suspend the 1 percent distributed to pre-kindergarten education services by a three-fifths vote in each house.[1]
Text of measure
Constitutional changes
- See also: Article XII, New Mexico Constitution
The measure would have amended Section 7 of Article XII of the New Mexico Constitution.[1]
Path to the ballot
- See also: Amending the New Mexico Constitution
In New Mexico, both chambers of the New Mexico State Legislature need to approve a constitutional amendment by a simple majority during one legislative session to refer the amendment to the ballot for voter consideration.
Rep. Antonio Maestas (D-16) and Rep. Javier Martínez (D-11) sponsored the constitutional amendment as House Joint Resolution 1 (HJR 1) during the 2019 legislative session.[1]
On February 15, 2019, the New Mexico House of Representatives approved HJR 1 in a vote of 41 to 27.[1]
On March 4, 2019, the New Mexico Senate Rules Committee voted seven to four to table HJR 1.[3]
See also
External links
Footnotes
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State of New Mexico Santa Fe (capital) |
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