Senate Bill 9, entitled Create Legacy Permanent Funds, was discussed within the senate conservation committee.
This Bill was presented with bi partisan sponsorship, with senator Steven P. Neville and senator Peter Wirth the Majority Floor Leader.
Senate Bill 9 puts forth the creation of the Conservation Legacy Permanent Fund and The Land of Enchantment Permanent Fund .
This would allow New Mexico to receive and distribute finances for conservation projects and education.
An amendment was made during the session to not allow the funds to perform the function of eminent domain.
Three people from the floor stated they could not support the bill because there is no barring of using the funds to purchase private lands.
The funds from The Land of Enchantment Permanent Fund would be distributed yearly to numerous departments that manage natural resources, work to improve water quality and provide recreational opportunities for New Mexicans.
Senator Gregg Schmedes is in support of the bill and thinks it deserves more protection.
“I haven't been involved in the discussion of this, the crafting of this bill, it's wonderful, but if we're going to use the word legacy I would encourage y’all to put this constitutionally protected, and make it where, cause I'm telling you once it's gone it's gone. If this is an endowment fund for our land we need to constitutionally protect it and make it a true legacy fund.”
The initial amount suggested for these accounts is a combined 75 million dollars however there was an amendment to increase this to 200 million.
“By a vote of 7-0 you have a unanimous due pass from this committee as amended.”
A full room at the Roundhouse celebrated the passing of this bill as its goals are for the legacy of New Mexico.
The bill will be seen next by the Financial Committee.
