New Mexico House approves more spending from state trust

SANTA FE, N.M. – The New Mexico House of Representatives has approved a proposed constitutional amendment that would increase spending from a state education trust fund on early childhood education programs.

The 41-27 vote by the House late Friday sends the measure for consideration to the state Senate, where similar proposals have stalled in the past. Final approval also requires a statewide vote and the consent of Congress.

The initiative sponsored by Reps. Antonio Maestas and Javier Martinez of Albuquerque would increase annual distributions from the state’s Land Grant Permanent Fund by about $145 million.

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Opponents of the plan fear it would erode investment earnings that have helped the fund grow to $17 billion even as it pays out annual dividends to public schools, universities and hospitals.

Lawmakers are grappling with a court order to increase resources to public schools and implement proven strategies for improving student academic performance such as high-quality preschool.

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