Legislative Finance Committee

A preliminary draft report analyzing the fiscal impact of a New Mexico universal healthcare coverage plan has been released for public comment by the consultants preparing it for the Legislative Finance Committee. The draft report can be found HERE. A press release by KNG Health Consulting LLC can be found HERE. Those who would like to submit written comment on the contents of the preliminary report can email Nathan.Eckberg@nmlegis.gov through 5 p.m. on June 8, 2020.

General fund recurring revenues for FY20 through February were $5.098 billion, down $157 million, or 3 percent, from the same period a year ago due to a large, one-time federal payment received last year and lower net corporate income tax collections. Excluding direct oil and gas revenues from severance taxes or royalties and bonuses, general fund recurring revenue collections for FY20 through February were up $222.9 million, or 5.9 percent, from the same period a year ago.

New Mexico is among the biggest users of “short-term” placements in foster care, an approach that can be traumatic for children.
Press Release

The state's four investment funds grew by $6 billion last year, with one-year returns ranging from 12.75 percent for the severance tax permanent fund to 14.69 percent for the Public Employee Retirement Association pension fund.

A preliminary look at the impact of the coronavirus pandemic and oil price collapse indicates a $1.8 billion to $2.4 billion hit to state revenues in the budget year that starts July 1.