NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.
Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.
| SPONSOR: | Stell | DATE TYPED: | 02/11/00 | HB | HJM72 | ||
| SHORT TITLE: | State Compensation For Land Trades Or Sales | SB | |||||
| ANALYST: | Pickering | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY00 | FY01 | FY00 | FY01 | ||
| See Narrative | |||||
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
State Land Office (SLO)
SUMMARY
Synopsis of Bill
HJM72 declares the legislature's opposition to the contemplated withdrawal of the U.S. Bureau of Land Management ("BLM") from approximately nine thousand acres of federal surface and minerals underlying private surface in Eddy county. Furthermore, the memorial opposes this withdrawal unless the federal government agrees to adequately compensate the state, affected local governments and public schools through either direct payments or an acre-for-acre exchange of mineral bearing lands.
Significant Issues
SLO maintains that since HJM72 is not a bill, it will not be legally binding if passed by the legislature. The agency also reported that if any bill did require legislative approval of land exchanges by the Commissioner of Public Land ("Commissioner"), it would still be unconstitutional since it would violate the separation of powers provision in Article III, Section 1, New Mexico Constitution. Such legislation would unlawfully infringe on the broad authority to manage the state trust lands vested in the commissioner by Section 10 of the Enabling Act.
SUBSTANTIVE ISSUES
New Mexico depends on federal and state owned mineral wealth to directly fund a significant portion of the statewide public school funding formula. Both the state and Eddy county depend on gross receipts and other tax revenue from mineral production. The potential loss of mineral wealth could significantly impair the growth potential in the southeastern region of the state. Also, the loss of federal and state royalties could exacerbate the state's low revenue growth.
RP/njw